Twitter Deal | Elon Musk Seeks Time For Trial Prep In Suit Over $44 Billion Takeover: Report

Twitter Deal | Elon Musk Seeks Time For Trial Prep In Suit Over $44 Billion Takeover: Report

Category : World News

Author: Nob6 Team

Post Date :

[ad_1]

Tesla CEO Elon Musk responded Friday to Twitter’s lawsuit aiming to compel him to finish his $44 billion acquisition of the platform, according to numerous news reports, news agency Associated Press reported.

Musk’s attorneys accused Twitter in a complaint with the Delaware Court of Chancery of suppressing information concerning bogus accounts — a long-standing concern for Musk — as well as causing delays, delivering evasive replies, and erecting technological barriers.

ALSO READ: Centre Mulling Regulation To Make Tech Giants Pay News Outlets For Their Content: Union MoS

The brief also contested Twitter’s plea for a speedy trial, noting that obtaining material from Twitter and deposing multiple witnesses on the issue of bogus accounts would take months, AP reported.

Musk offered to pay $54.20 per share for Twitter in April, after the company reversed its initial objection to the proposal.

ALSO READ: BJP Parliamentary Board Meeting Today, NDA’s Vice Presidential Candidate Expected To Be Finalised

However, the two parties have been preparing for a judicial battle since the billionaire announced a week ago that he was withdrawing from his deal to acquire the firm.

The lawsuit echoed numerous other allegations Musk has already made, including that Twitter breached the purchase agreement by firing two high-level executives without first alerting Musk.

Twitter Sues Tesla Chief Over $44 Billion Takeover Deal

Earlier on Tuesday, Twitter initiated legal action against Tesla chief Elon Musk for abandoning the $44 billion deal to buy the social media platform at a Delaware court demanding the world’s richest entrepreneur to complete the deal at the agreed $54.20 per Twitter share.

In its lawsuit, the company targeted Musk for hampering the company’s operations. “Musk apparently believes that he – unlike every other party subject to Delaware contract law – is free to change his mind, trash the company, disrupt its operations, destroy stockholder value, and walk away,” said the lawsuit, according to news agency Reuters.

(With Inputs From AP)

[ad_2]

Source link

Tags

elon musk, Musk Twitter suit, Tesla CEO, ,

About Author

Nob6

Nob6 have a great team of writers and developers who are enthusiastic about delivering quality content focusing on 10,000 + users and loyal readers. 

Leave a Comment

Author : Nob6

Nob6.com: Nob6 Blog – The Complete blog for Blogging, Business, Money Making Tips, Startups, Webmaster, Guest posting, tips and tricks, and Technology News.

Join Us

Recommended Posts

Mastering Advanced DevOps: Serverless Architectures and Microservices for Enhanced Agility

Mastering Advanced DevOps: Serverless Architectures and Microservices for Enhanced Agility

Trickle Chargers Boosting Your Car's Battery Life

Trickle Chargers: Boosting Your Car’s Battery Life

Which Aspects of Business are Just as Important as Your Main Service

Which Aspects of Business are Just as Important as Your Main Service

What Needs To Be Arranged Before Moving Home

What Needs To Be Arranged Before Moving Home

From Manuscript to Masterpiece How Professional Book Printing Services Make the Difference

From Manuscript to Masterpiece: How Professional Book Printing Services Make the Difference

Fundamental Factors Influencing WSM Coin: A Comprehensive Overview

Fundamental Factors Influencing WSM Coin: A Comprehensive Overview

Business team learning about what are contact center solutions and searching the best one

What Are Contact Center Solutions and How Do They Benefit Businesses?