Twitter to make shareholders vote on Elon Musk accession
Twitter shareholders will vote on September 13 on whether to approve the...
Elon Musk countersues Twitter; details kept confidential.
The dispute between Tesla CEO and the social networking company, he agreed to acquire heated up on Friday when Elon Musk countersued Twitter. However, the case has not yet been made public.
It was unclear why Musk, a billionaire and the head of SpaceX, sought the court to keep the specifics of his countersuit private given that he has recently been outspoken in his criticism of Twitter on social media and in public appearances.
Twitter and Musk announced on April 25, 2022, that Musk will pay $44 billion to acquire Twitter and take it private. A market drop that followed Musk’s $44 billion transaction led to a decrease in tech equities, including Tesla and Twitter.
Musk accused Twitter of lying about the number of spam and bot accounts on its network shortly after they agreed to the transaction and denied him access to details about how these accounts were handled. Twitter filed a lawsuit against Musk in the Delaware Court of Chancery to compel him to complete the purchase after Musk publicly declared his intention to cancel it earlier this month.
Musk’s legal team filed a confidential countersuit on Friday in a Delaware court, so a copy was not immediately made public, but it might be in the near future with important information deleted.
Chancellor Kathaleen St. J. McCormick, the judge overseeing the case, issued an order on Thursday night that established a timeline and stipulated that the five-day trial will begin on October 17.
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