Musk plans to countersue Twitter to scrap $44 bn deal: Report
Darpan News Desk IANS, 19 Jul, 2022 12:12 PM
San Francisco, July 19 (IANS) Tech billionaire Elon Musk has reportedly planned to file a counter-lawsuit against micro-blogging site Twitter to scrap a $44 billion acquisition deal.
Musk's lawyers are angling to push a Delaware Court of Chancery judge to grant them more time and power to gather information about bots on Twitter, citing sources, The New York Post reported on late Monday.
A protracted legal battle could also potentially drag down the company's stock, giving Musk more leverage to renegotiate Twitter's sale price. The news comes less than a week after the microblogging site sued Tesla CEO in Delaware, accusing the mogul of agreeing to buy the site then attempting to "trash the company, disrupt its operations, destroy stockholder value, and walk away".
Twitter's lawyers are pushing for a four-day trial starting in September, while Musk wants the trial to open no earlier than February 2023.
"Twitter's sudden request for warp speed after two months of foot-dragging and obfuscation is its latest tactic to shroud the truth about spam accounts long enough to railroad defendants into closing," Musk's legal team wrote.Recently, Musk officially pulled out of his $44 billion agreement to purchase the microblogging site.
In a filing with the US Securities and Exchange Commission (SEC), Musk's team claimed he was terminating the deal because Twitter was in "material breach" of their agreement and had made "false and misleading" statements during negotiations.
The platform has claimed that it is suspending nearly 1 million spam accounts a day.
A recent report indicated that Twitter lawyers from Wachtell, Lipton, Rosen & Katz law firms were preparing for a long-drawn court battle after Musk filed paperwork with the US SEC to exit the acquisition deal.
What if, instead of sending humans to other planets, we made an exact copy on the site and colonised other planets to ensure survival of the human race for eons?
South Korean scientists have taken inspiration from the prehistoric Velociraptor dinosaur to create one of the world's simplest and fastest robots - the Raptor.
The cup of your favourite green tea is full of health benefits and now researchers have found that an active compound in green tea also reduces the risk of pancreatic cancer.
If you wish to sell your old laptop online before buying a new tablet, restrain the urge to upload several photos as researchers have found that too many photos can confuse consumers and dent your chances of selling.
Fasten your seat belts. A jet car that flies at 880 km per hour is being conceptualised that would fly you from New Delhi to Mumbai in less than two hours - and it may use a highway as a runway to take off!
