The Twitter-Musk drama continues with the entrepreneur submitting a court filing.
“This Court should reject Plaintiff Twitter, Inc.’s unjustifiable request to rush this $44 billion merger case to trial in just two months. Twitter’s bid for extreme expedition rests on the false premise that the Termination Date in the merger agreement is October 24, glossing over that this date is automatically stayed if either party files litigation. By filing its complaint, Plaintiff has rendered its supposed need for a September trial moot,” stated the filing.
that he is entitled to drop the deal because the company hasn’t given him enough information to figure out if its estimates about the number of spam bots on the platform are accurate. Musk’s filing mentions a May 6 meeting he had with Twitter’s chief executive officer and chief financial officer where they reviewed how the company estimates how many bots are on the platform. Musk complained that the process was based on human reviewers looking at a small percentage of accounts and was much less thorough than he had expected.
“For nearly two months, Mr. Musk has sought the data and information necessary to “make an independent assessment of the prevalence of fake or spam accounts on Twitter’s platform” . This information is fundamental to Twitter’s business and financial performance and is necessary to consummate the transactions contemplated by the Merger Agreement because it is needed to ensure Twitter’s satisfaction with the conditions to closing, to facilitate Mr.
Twitter, on the other hand, claims that Musk wasn’t genuinely interested in finding out about bots but rather sent a series of escalating requests that the firm could not meet. The court will now hold a hearing Tuesday to address Twitter’s request for an expedited trial.Stay ahead with the latest science, technology and innovation news, for free:
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