hugheseyau writes "On a late August morning, Kevin Systrom, chief executive of Instagram, took an oath before testifying at a hearing of the California Corporations Department, which sought to determine if Facebook’s acquisition of the photo sharing service was in the best interest of Instagram investors. ... When asked if his company had received any offers besides Facebook’s at the time of the negotiations, Mr. Systrom said, “No, we never received any offers,” according to transcripts of the hearings. ... Yet the accounts of several people close to Twitter and Facebook, and documents reviewed by The New York Times, contradict the statements he made under oath.""
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