Twitter in court dismisses Elon Musk’s claims as ‘unbelievable’
Twitter on Thursday filed a response to billionaire Elon Musk’s claim that he had good reason to want to withdraw from a $44 billion deal to acquire the social media company.
In an unexpected twist, Twitter was able to send a response to Musk before Musk’s own objections were made public. A judge ruled on Wednesday that Musk’s counterclaim would be public announcement by Friday.
According to Musk, he – the billionaire founder of many companies, advised by lawyers and Wall Street bankers – was scammed by Twitter to sign a merger agreement worth $44 billion. .
In an answer filed Thursday in Delaware Chancery Court, Twitter called Musk’s reasoning “a story, imagined in an attempt to get out of a merger deal that Musk no longer finds appealing a deal.” when the stock market – and with it, his huge personal fortune – has declined in value. “
“The objections are a story made for litigation, contradicting evidence and common sense,” the Twitter response said. “Musk invents representations that Twitter has never done and then selectively tries to use the extensive confidential data Twitter provided to him to result in a breach of the representations.” purposeful presence”.
At the same time, the response said, Musk also accused Twitter of violating their agreement by “stoned” his requests for information.
Musk’s representatives did not immediately respond to a statement of comment on Thursday.
Lawyers for Musk wanted to submit a public version of their response and counterclaims in a Delaware court on Wednesday. But Twitter’s attorneys complained they needed more time to review and potentially edit Musk’s sealed profile, saying it referred “extensively” to information and internal Twitter data that were leaked. provided to Musk.
Musk, the world’s richest man, agreed to buy Twitter in April and go private, offering $54.20 a share and vowing to relax the company’s content policy and remove fake accounts.
But in July, Musk said he wanted to back out of the deal, prompting Twitter to file a lawsuit to keep him with the “seller-friendly” deal.
Musk said Twitter didn’t give him enough information about the number of fake accounts on its service. Twitter argues that Musk, CEO of tram manufacturer and solar company Tesla Inc., is deliberately seeking to scupper the deal because market conditions have deteriorated and the acquisition no longer serves his interests.
Musk or Twitter will be entitled to a $1 billion breakup fee if the other party is found responsible for the deal’s failure. However, Twitter wants more than that and is seeking a “performance-specific” court order directing Musk to abide by the agreement.