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The contradiction between Musk and Twitter is becoming more and more acute: the counterclaim documents will be released by Friday

  • linda
  • 2022-08-04 15:32:31
  • 323 read
Elon Musk, the world's richest man, has reportedly been at odds with Twitter over abandoning his $44 billion...

Elon Musk, the world's richest man, has reportedly been at odds with Twitter over abandoning his $44 billion acquisition of Twitter, and the matter has long been raging, and it now appears that the two sides should even disclose how much they are related to. It is difficult to agree on this information.

Delaware Chancery Judge Kathleen McCormick, who is in charge of the case, ruled on Wednesday local time that Musk's counterclaim should be published by the afternoon of August 5, later than Musk had hoped for. 2 days.

Musk's counterclaim is expected to be released as early as Thursday, people familiar with the matter said.

Before McCormick's ruling, Twitter had accused Musk of trying to disclose the content of its 163-page counterclaim on Wednesday without giving it an opportunity to redact and blacken the company's confidential information.

Hours later, Musk's lawyers responded, accusing Twitter of trying to cover up "that side of the story that it didn't want publicly disclosed" and violating the U.S. Constitution's First Amendment right to the public to know what the two sides were arguing about.

Twitter received a copy of the counterclaim on July 29, and the company said at the time that the court ruling gave it five business days to complete the changes. Musk said that 3 working days is enough.

The dispute underscores the sharp confrontation between Twitter and Musk.

Musk agreed to buy Twitter on April 25, but backed off on July 8 without paying a $1 billion breakup fee. He said Twitter had failed to provide details on whether fake accounts were rampant.

Twitter sued Musk four days later, accusing him of sabotaging the deal because the acquisition was no longer in his interest, and asked the court to compel Musk to complete the acquisition.

The case is scheduled to go to trial on October 17. Twitter also issued dozens of subpoenas this week to banks, investors and law firms backing Musk's takeover, while Musk also issued subpoenas to Twitter's advisers at Goldman Sachs and JPMorgan.

Musk, who previously offered Twitter for $54.20 a share, said at the time that he believed the company would become a global platform for free speech.

In regular Nasdaq trading on Wednesday, Twitter closed at $41, up 0.05% from the previous session.


TAG: Twitter

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