The Lawsuit That Shook the Deal
The battle over TikTok’s U.S. future has turned into a full legal showdown. A group of American investors tried to buy TikTok’s U.S. operations for $33 billion. Now, they’re suing ByteDance — TikTok’s Chinese parent company. They accuse ByteDance of running a sneaky racketeering scheme to keep control of the app.
Allegations of Dirty Tactics
These investors, including big names from the tech world, say ByteDance didn’t just say “no” to the deal. Instead, they allegedly went behind the scenes, using shady tactics like wire fraud and bribery. In doing so, they blocked the sale and stayed in charge.
The Trump Crypto Twist
One eyebrow-raising claim involves a $300 million purchase of cryptocurrency linked to former President Trump. The investors argue this was a bribe meant to sway U.S. officials. Additionally, they accuse ByteDance of sharing private messages with regulators to kill the deal.
What’s at Stake
Why does this matter? The U.S. government has pushed TikTok to cut ties with China due to national security and data privacy concerns. The law says TikTok must divest from its Chinese owners or face a ban. However, the lawsuit claims ByteDance ignored these rules through underhanded tricks.
TikTok’s Response
TikTok denies all the claims. Nevertheless, the case adds fuel to the fire around foreign control of popular social apps. How this plays out could change the future of TikTok — and maybe other apps — in America.
🔗 For the full story, read the original article on Courthouse News:
Would-be TikTok buyers accuse Chinese owners of maintaining control through racketeering scheme
TL;DR:
- A group of American investors tried to buy TikTok’s U.S. operations for $33 billion
- They’re now suing TikTok’s parent company, ByteDance, for allegedly sabotaging the deal
- Claims include wire fraud, bribery, and sharing private messages with regulators
- One accusation: ByteDance used $300 million to buy a Trump-linked crypto as a “bribe”
- The lawsuit says ByteDance ran a racketeering scheme to maintain control
- TikTok denies the allegations
- The case adds more heat to the debate over TikTok’s ties to China and U.S. national security
