Elon Musk's Twitter Countersuit Due By Friday As Acrimony Grows

Twitter received an official replica of the lawsuit on the 29th of July and that court rules permitted it to have five business days to complete redactions. Musk claimed that three business days was enough

Wilmington:

Twitter Inc and Elon Musk and Elon Musk, who are suing each over the world's wealthiest person's efforts to end their $44 billion deal, could not even decide on the amount to inform the world about their disagreement. The judge in charge of the court, the Chancery Court's Chancellor Kathleen McCormick of Delaware Chancery Court has ruled that Musk's countersuit must be released in the afternoon of August. 5 - two days longer as Musk wanted Musk's countersuit could be made public as early as Thursday according to an individual who has been able to discuss the matter.

McCormick made the ruling after the San Francisco-based Twitter said it was accusing Musk of attempting to publish his 163-page countersuit without giving it the opportunity to erase private information regarding the company.

After a few hours, Musk's lawyers came out in defense and accused Twitter as a means to conceal "the side of the story it does not want publicly disclosed" and to undermine citizens' First Amendment constitutional right to know what the two sides are fighting about.

Elon Musk's Twitter Countersuit Due By Friday As Acrimony Grows

As per reports, the countersuit filed by Musk could be made public as early as Thursday.

Wilmington Twitter Inc. as well as Elon Musk who are both suing one another over the world's wealthiest person's attempt to end their $44 billion deal, could not even agree on how much they should inform the public about their disagreement.

The judge in charge the The Chancellor Kathleen McCormick of Delaware Chancery Court decided on Wednesday that Musk's countersuit should be publicized in the afternoon of August. 5, which is two days earlier than Musk had hoped for.

Musk's countersuit could be made public within the next few hours according to a source who has been able to discuss the issue.

McCormick was ruled in the case following a the San Francisco-based Twitter claimed that Twitter's San Francisco-based subsidiary Musk that he was trying to make public his 163-page countersuit without giving it the opportunity to block private information regarding the company.

After a few hours, Musk's lawyers came out in defense and accused Twitter that it was trying to conceal "the side of the story it does not want publicly disclosed" and to undermine citizens' First Amendment constitutional right to be aware of what the two sides are fighting about.

Twitter had received an official copy of the countersuit on the 29th of July, and the court ruled that it could give the company five business days to complete redactions. Musk claimed that three business days were sufficient.

The controversy highlights the conflict among Twitter and Musk who is also CEO of electric car manufacturer Tesla Inc.

Musk was willing to buy Twitter the 25th of April. However, Musk he wished to pull out on July 8 without having to pay the $1 billion breakup cost for Twitter's failure to disclose the frequency of bot and accounts that are spams.

Twitter was sued the next day and accused him of sabotaging the merger as it did not serve his interests. They also demanded that he finish the merger.

An Oct. 17 trial is scheduled. Twitter has issued hundreds of subpoenas for investors, banks and law firms who backed Musk's bid. Musk sent subpoenas out to Twitter's advisors in Goldman Sachs and JPMorgan.

Musk has offered to purchase Twitter in exchange for $54.20 per share and said he believed that it could become an international platform to allow free speech.

Twitter Shares rose 2 cents to $41.00 on Wednesday.

Elon Musk records data countersuit beneath seal against Twitter in $44B:

Elon Musk countersued Twitter Inc on Friday, increasing his legal battle with Twitter Inc in his effort to walk away from the $44 billion acquisition although the lawsuit was secretly filed. While the 164-page document wasn't available to the public, according to court rules, a redacted copy could soon be made public. Musk's suit was filed after Chancellor Kathaleen McCormick from the Delaware Courtroom of Chancery ordered the trial to last five days beginning on the 17th of October. 17 to determine whether Musk could resign from the deal . Additionally, on Friday Musk has been sued by an individual Twitter shareholder who asked the courtroom to require the billionaire to stop the deal and discover that he did not fulfill his fiduciary obligations toward Twitter shareholders and pay damages for losses that caused. Musk is obligated to be a fiduciary to the shareholders of Twitter due to his 9.6 percent stake in the company and because the settlement that he signed gives him the right to veto most of the company's options due to the complaint which seeks class status. It was brought in the name of Luigi Crespo, who owns 5500 Twitter shares. It was filed at the Courtroom of Chancery Musk, the world's most wealthy individual and the chief executive of Tesla Inc, mentioned on July 8 that he had decided to resign from the acquisition and blamed Twitter Inc for violating the deal by misrepresenting the number of fake accounts that it had on its platform. Twitter was sued a few days afterward, claiming the fake claims on the account a distraction declaring that Musk was bound that the merger agreement would end this deal with $54.20 for each share. The company's shares closed in the early hours of Friday, trading at $41.61 which is the highest price closed since Musk abandoned the deal. McCormick has accelerated the process to trial in the last week of July in order to minimize the harm to Twitter due to the uncertainty around the deal Twitter has blamed the courtroom fight for the decline in revenue and creating chaos across the firm The two sides had reached an agreement for an October. 17. trial but the two sides have disagreed regarding the scope of discovery or access to internal documents and other evidence Musk claimed Twitter in the last week of not delivering when it was confronted with his inquiry demands, and Twitter accused him of being in seeking out a wealth of information that were irrelevant to the central issue of the matter which is whether Musk was in violation of the merger contract The principal judge in her ruling on Friday seemed to be anticipating the possibility of discovery disputes resurfacing. Musk will also be facing a seven-day court trial scheduled for Wilmington, Delaware, starting October. 24. An Tesla shareholder is looking for of the right to cancel as company inequity and unjust enrichment record-breaking pay package offered by the maker of electric vehicles.

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