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A comment on Ask HN: What happened to Twitter poison pill?. Parent comment

Re:Ask HN: What happened to Twitter poison pill? by jmaygarden on Monday April 25, 2022 @06:35PM (#31161694)
As far as I know, the only instance of a poison pill being triggered was Versata Enterprises, Inc. in December 2008.

TL;DR: A competitor (Selectica, Inc.)--wishing to purchase Versata--bought over 5% of the shares. The IRS considers this an ownership change, and it imposes a penalty to discourage trading of Net Operating Loss (NOL) carryovers. A poison pill was in place to prevent this tax issue. The board executed the poison pill to dilute Selectica ownership from 6.4% to 3.9%, and that action held up through appeal to the Delaware Supreme Court.

https://www.lw.com/upload/pubcontent/_pdf/pub2563_1.pdf

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Re:Ask HN: What happened to Twitter poison pill? by toomuchtodo on Wednesday April 27, 2022 @12:02AM (#31176154)
Quite an interesting bit of corporate governance history. Thanks for sharing.
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Re:Ask HN: What happened to Twitter poison pill? by saalweachter on Monday April 25, 2022 @09:06PM (#31162832)
Do you mean held up or upheld?
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Re:Ask HN: What happened to Twitter poison pill? by yuubi on Monday April 25, 2022 @09:18PM (#31162917)
the action held up; the court upheld it.
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