The battle between Tesla CEO Elon Musk and Twitter has officially intensified, by countersuing the microblogging platform on Friday, July 29. For walking away from the $44 billion twitter deal in response to the social media company’s legal complaint filed against Elon Musk, A lawsuit was filed confidentially.
The tweet by Elon Musk which read as Tesla + Twitter -> Twizzler has brought many questions to the follower’s minds. Is Elon Musk planning a merger again or is he indicating something in a rather sarcastic way?
Tesla + Twitter -> Twizzler
— Elon Musk (@elonmusk) July 30, 2022
Despite not being available to the general public at the time of writing, reports indicated that a court order might soon make a redacted version of the case document available.
The source claims that Elon Musk filed the lawsuit soon after Delaware Court of Chancery Chancellor Kathaleen McCormick ordered a five-day trial to begin on October 17 to determine if he could pull out of the $44 billion deal. The court has scheduled a five-day trial for this case.
This decision does not, in McCormick’s words, “resolve any specific discovery disputes, including the appropriateness of any requests for requests for very large data sets.”
To settle his attempt to renege on a $44 billion acquisition agreement for the social media network, Elon Musk wanted a five-day trial beginning on October 17 rather than October 10 as Twitter Inc. had requested on Tuesday. The breadth of discovery and who would have access to internal documents and other evidence, however, did not appear to be areas of agreement between the two parties.
In April, Musk agreed to buy Twitter and take it private with an offer of $54.20 per share and a promise to make content policing easier and remove phony accounts. Musk broke the agreement on July 9.
If either side was to fault for the agreement falling through, Musk and Twitter had agreed to divide a $1 billion breakup fee.
