Elon Musk, who is being sued by Twitter in US courts for reneging on his commitment to acquire the social network, struck back on Friday by filing a complaint against Twitter in a Delaware court, according to a legal filing. This complaint was filed in a 164-page document “secret” Not yet available to the public, according to an opinion from a Delaware court specializing in business law handling the case. However, it must be made public soon, as the rules require Elon Musk to submit a public version once it is stripped of trade secrets or other sensitive information it contains.
In what promises to be an escalating legal battle, the Tesla executive filed his countersuit shortly after the judge overseeing Twitter’s lawsuit set an Oct. 17 date for military action to begin. One of Elon Musk’s pleas is alleging that Twitter lied after accepting his buyout offer, the company also believes. Wall Street Journal.
The aborted $44 billion purchase
Elon Musk announced his intention to buy the social network for $44 billion in April, but finally announced in early July that he was ending the deal, saying the San Francisco-based company lied about it. the proportion of automated and spam accounts on its platform.
Twitter filed a complaint in a Delaware (northeast) court on July 12 to compel the world’s richest man to honor his purchase obligation. The social network, which says less than 5% of its active users are untruthful, is seeking to enforce the agreement or demand a severance payment estimated at $1 billion.
Elon Musk promised to offer $54.20 per Twitter share. But amid a general slump in the stock market in recent months, a drop in advertising revenue affecting the social network and criticism from the billionaire, Twitter’s stock quickly collapsed and fell to $32 on 11. in July, the day before his protest against Elon Musk. It was trading at $41.61 on Friday.
Source: Le Figaro
I am David Wyatt, a professional writer and journalist for Buna Times. I specialize in the world section of news coverage, where I bring to light stories and issues that affect us globally. As a graduate of Journalism, I have always had the passion to spread knowledge through writing.