East Africa News Post

Complete News World

Elon Musk took on Twitter in the legal battle started by the social network's purchase

Elon Musk took on Twitter in the legal battle started by the social network’s purchase

Elon Musk took on Twitter in the legal battle started by the social network’s purchase

South African billionaire Elon Musk filed a counter-suit against Twitter on Friday in the dispute that the two parties remain open about the resignation of the CEO of Tesla to buy the social network after an agreement was announced at the end of April.

As I mentioned before The Wall Street JournalCourt documents show that Musk has filed a counterclaim in the Delaware (USA) courts where the case is being considered, although the content of the counterclaim remains confidential.

The trial between Twitter and Mask to solve it The dispute over the purchase of the social network will begin on October 17 unless the parties reach an agreement at another dateaccording to case documents that were also made public on Friday.

The judge handling the case in Delaware court late Thursday ordered the trial to begin that day, after pre-approving Twitter’s request for the fast-track process in the face of Musk’s claim to delay it.

Tesla CEO accused the company of making false statements in the presentation of the transaction
Tesla CEO accused the company of making false statements in the presentation of the transaction

Kathleen McCormick, president of the specialized commercial law court looking into the complaint, said in detail in a document published Thursday afternoon that the parties should “cooperate in good faith” and share necessary information in litigation, an issue key to avoiding delays.

Musk had informed earlier this month of his intention to cancel the deal to buy the technology company agreed between the two parties for 44 thousand millionWhich responded with a lawsuit in a court specialized in commercial disputes to force it to complete the process.

See also  What distinguishes these billionaires in their youth is that it dismantles the myth of hard work

Twitter’s board called its shareholders to vote on the purchase on September 13 and asked them to green-light the process as a final step to shutting it down, though it admitted it also relied on “pending litigation” with the millionaire.

according to The Wall Street JournalAnd the One of Musk’s requests in the document relates to his accusing Twitter of lying About the number of fake accounts after the offer to buy, which is one of the reasons he gave to withdraw from the deal.

Twitter also filed a complaint on July 12 in a Delaware court to force the world’s richest man to fulfill a commitment made at the end of April to acquire the platform for $44,000 million.

The social network asked to speed up the start-up process in September and thus reduce uncertainty Which partially paralyzes the company, while Musk’s lawyers have asked to start next year.

(with information from the EFE and AFP)

Read on: