Elon Musk vs Twitter: Tesla CEO’s Response To Be Made Public By Friday

A judge has ordered that Elon Musk’s response to Twitter’s complaint on his effort to back out of a USD 44 billion deal to acquire the social media business must be made public by Friday night at the latest.

In a Delaware courtroom on Wednesday, Musk’s attorneys sought to submit a public copy of their answer and counterclaims. However, Twitter’s legal team protested that they needed additional time to examine and maybe edit Musk’s sealed submission since it makes heavy use of data and internal Twitter material that Musk was provided.

Following a brief teleconference on Wednesday, Chancellor Kathaleen St. Jude McCormick concurred with Twitter and ordered that the public submission be docketed by Friday at 5 o’clock. Depending on when Twitter’s attorneys finish their assessment, it may be filed sooner.

Twitter’s legal team stated that under to court regulations, a public version of Musk’s submission cannot be docketed until five working days have passed. Few cases generate as much interest from the general public as this one does, and Twitter is aware of the court’s dedication to providing the public with the most access possible to its proceedings, Twitter attorney Kevin Shannon wrote.

Twitter has no desire to suggest more redactions than are required from the defendants’ reply pleading.

Edward Micheletti, a lawyer for Musk, said that Twitter’s attorneys were incorrectly interpreting the court’s regulations. Additionally, Musk’s lawyers claim that there is nothing in his submission that should be kept private or secret. According to Micheletti, Twitter shouldn’t be allowed to keep suppressing the parts of the tale that it doesn’t want made public.

Musk, the richest man in the world, agreed to acquire Twitter in April and take it private, for USD 54.20 per share and promising to relax content policing policies and eliminate false accounts. Shares of Twitter ended on Wednesday at USD 41, a significant discount to their 52-week high of USD 69.81.

Musk, indicated in July that he wanted to back away from the deal, prompting Twitter to file a lawsuit to hold him to the seller-friendly agreement.

Musk says Twitter has failed to provide him enough information about the number of fake accounts on its service. Twitter argues that Musk, CEO of electric car maker and solar energy company Tesla Inc., is deliberately trying to tank the deal because market conditions have deteriorated and the acquisition no longer serves his interests.

Either Musk or Twitter would be entitled to a USD 1 billion breakup fee if the other party is found responsible for the agreement failing.

Twitter, on the other hand, wants more, and is asking the court to issue a specific performance order compelling Musk to carry out the agreement.


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