Connect with us

Business

Elon Musk Responds To Twitter’s Lawsuit Over $44 Billion Deal

Avatar of Arsi Mughal

Published

on

Elon Musk Responds To Twitter's Lawsuit Over $44 Billion Deal

(CTN News) – Elon Musk argued on Friday that Twitter’s September trial date is “unjustifiable” in the $44 billion merger case.

After Elon Musk announced he was walking away from the deal, sued Elon Musk on Twitter to force him to complete the purchase.

In September, Twitter sought a four-day trial, arguing that the deal must close by the end of October.

By filing its lawsuit, Plaintiff has rendered its supposed need for a September trial moot,” Elon Musk’s attorney, Alex Spiro, wrote in a Friday court filing.

“Twitter’s bid for extreme expedition depends on the false premise that the Termination Date in the merger agreement is October 24, glossing over that this date automatically stays if either party files litigation.”

The Delaware Chancery Court will determine whether Musk is still obligated to purchase Twitter or whether he can walk away because he wasn’t provided with the requested data..

Twitter’s sudden request for warp speed after two months of obfuscation is its latest attempt to obscure the truth about spam accounts long enough to railroad defendants into closing.

Despite Twitter’s claim that 5% of active users are bots, Musk claims that he does not believe that figure.

After signing, Defendants sought to understand Twitter’s process for identifying false or spam accounts. Elon Musk was flabbergasted to learn how meager Twitter’s process was during a meeting on May 6, Musk’s filing said.

In his request, Elon Musk requested a trial date no earlier than mid-February.

Related CTN News:

U.S. Gasoline Prices Set To Fall Below $4
Bill Gates Plans To Give Away ‘Virtually All’ His $113 Billion
Amazon Has Reduced Private-Label Selection Due To Weak Sales