Tech
Elon Musk Fires Back At Twitter In Court Battle
(CTN News) – As part of his fight against Twitter’s lawsuit demanding he be held accountable for his $44 billion buyout, Elon Musk filed claims against the company on Friday.
The Chancery Court in Delaware said Elon Musk’s counter-suit was submitted along with a legal defense against Twitter’s claim that he is contractually bound to complete the deal he inked to buy Twitter in April.
According to the notice, the 164-page filing was submitted as “confidential,” meaning the public could not access the information.
Elon Musk must, however, submit a public version with trade secrets and other sensitive information redacted, as required by the court.
On October 17, Twitter’s lawsuit against Elon Musk will begin a five-day trial.
In July, Tesla CEO Elon Musk announced he was terminating his agreement with Twitter due to allegations the company misled him about its fake and spam accounts count.
According to Twitter, whose stock price closed at $41.61 on Friday, Elon Musk is creating excuses to get out of the contract based on his claims that accounts are run by software “bots” rather than people.
Shareholders will vote on the merger on September 13, as the social media platform urges them to approve the deal.
Twitter’s chief executive Parag Agrawal and board chairman Bret Taylor said in a copy of a letter to investors that they are committed to finalizing the merger at the price and terms agreed upon with Mr. Musk.
As well as billions of dollars, Twitter’s future is at stake, which Elon Musk has said should allow any legal speech – a position that has sparked fears the network might incite violence.
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