- Twitter is demanding that Elon Musk be held to their $44 billion buyout deal.
- The Tesla boss filed claims against Twitter, which it described as “confidential.”
- However, court rules require Musk to present a public version of the filing.
Elon Musk filed claims against Twitter on Friday as he fights the tech firm’s lawsuit demanding that it uphold its $44 billion buyout agreement.
Musk’s countersuit was filed as a legal defense against Twitter’s claim that the billionaire is contractually obligated to complete the deal he made in April to buy Twitter, the Delaware state chancery court said. said in a notice.
The notice indicated that the 164-page filing was classified as “confidential,” meaning the documents were not accessible to the public.
However, court rules require Musk to submit a public version of the filing with redactions of trade secrets or other sensitive information.
A judge has ordered a five-day trial in Twitter’s lawsuit against Musk to begin on October 17.
The Tesla boss wooed Twitter’s board with an offer of $54.20 a share, but then announced in July that he was “terminating” his contract over allegations that the firm had referred him to a number of fake and spam accounts. Misled by
Twitter, whose stock closed at $41.61 on Friday, has stuck to its estimate of accounts being run by software “bots” rather than people, and argued that Musk used that as an excuse to back out of the deal. is preparing
The social media platform has urged shareholders to ratify the deal by voting on the merger on September 13.
“We remain committed to closing the merger at the price and terms agreed upon with Mr. Musk,” Twitter Chief Executive Parag Agarwal and board chairman Brett Taylor said in a copy of the letter to investors.
Billions of dollars are at stake, but so is the future of Twitter, which Musk has said should allow any legal speech — an absolutist position that has raised fears that the network could be violent. Can be used to provoke.