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.
If your colleagues give you the cold shoulder at work, this can not only make your urge to quit the job stronger but also do more harm to your health than bullying.
A new algorithm developed by Massachusetts Institute of Technology researchers could transfer acclaimed photographers' signature styles to your own smart phone photos.
“Be positive” is not merely a motivational punch line. People with high levels of cynical distrust are more likely to develop dementia and other health problems, a new study reveals.
If your friend does not understand the foreign language you speak, web-based translator may no longer be the only option as Microsoft has developed an app for Skype that can almost translate conversations in real time.
Scanning your smart phone to find the nearest restaurant or directing Google Glass to show you a detailed map of the street is all fine but augmented reality (AR) is not good for your eyes in the long run.
Have Rs.1.5 crore in your kitty? You can get a seat on Richard Branson-owned Virgin space travel's flight for a 'Zero Gravity' (ZeroG) experience in space.
