![]() ![]() ![]() By videoconference from the Hamptons, he raised the issue during a Block board meeting. Nevertheless, Dorsey, who is also the co-founder and former CEO of Twitter, began thinking of acquiring Tidal after summering with his friend Carter in the Hamptons in 2020, according to court documents. Meanwhile, Tidal became the target of a criminal investigation in Norway for artificially inflating its streaming numbers. It also churned through five different CEOs by 2020, when Carter personally extended a $50 million loan to the struggling outfit. Rebranded as Tidal, it struggled to attract subscribers, logging multimillion-dollar losses for 10 consecutive quarters by mid-2020. Tidal, which presented itself as an artist-friendly alternative to other music streaming services, was formed when a group of recording artists led by Jay-Z, whose real name is Shawn Carter, acquired Norwegian streaming service Aspiro in 2015 for $56 million. “Under Delaware law, however, a board comprised of a majority of disinterested and independent directors is free to make a terrible business decision without any meaningful threat of liability, so long as the directors approve the action in good faith.” “It seemed, by all accounts, a terrible business decision,” the judge said of Block’s acquisition of Tidal. ![]() That deference remains even if a corporate decision turns out to be unwise. McCormick noted that the demand requirement is a manifestation of Delaware’s business judgment rule, under which courts defer to the decision-making of corporate directors unless there is an indication they acted in bad faith. Under Delaware law, shareholders must make such a demand or demonstrate that doing so would be futile because a majority of directors were self-interested, lacked independence or faced a substantial likelihood of liability. Judge McCormick ruled Tuesday that the pension fund had failed to demand that Block’s board pursue legal action itself before filing a derivative lawsuit on behalf of the company. I am sure they will be pleased to now be able to instantly connect to the extensive TIDAL music library and play their selected music in a high-quality format.T-Pain Announces Tidal Partnership & New Dial-In Tips Hotline That Gives Aspiring Artists…Ĭhancellor Kathaleen St. ![]() Įtienne Gautier, MOON’s export sales manager, said: ‘TIDAL Connect is what our customers have been asking us for. This is highlighted by MOON’s maxim: Defy Obsolescence. It is part of the MOON philosophy to ensure continuous evolution and upgrades of its existing units. Existing MOON owners can install it through a simple firmware update. The music will then stream straight from the cloud – in lossless high-fidelity audio quality.Īll new MOON streaming products will feature TIDAL Connect in their proprietary MiND2 module (MOON Intelligent Network Device). TIDAL Connect is quick and simple to use – select the TIDAL app, choose a track to play and then click ‘available devices’ to select a MOON system. The addition of TIDAL Connect, together with the recent introductions of Spotify Connect and AirPlay 2, ensures MOON’s streaming products are at the forefront of audio connectivity. MOON is pleased to announce that its current streaming products* now feature TIDAL Connect. ![]()
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