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.
Forget selfies as the war has now moved to “belfies”. The online photo-video sharing website Instagram has recently been accused of censoring plump, underwear-clad bottom while continuing to allow skinnier, skimpier clothed bodies to appear.
Giving a boost to the growing number of green gazettes, researchers have now developed an app that could help curb food waste which leads to not only loss of money but also natural resources.
According to a study by the professional networking site LinkedIn, skills in science, technology, engineering and maths (STEM) make up nearly half of the 10 abilities most commonly found among professionals who moved to other parts of the world to pursue career opportunities.
Not happy with your kids being hooked to ipads or tablets playing video games? Turn to a new kind of gaming device, developed by an Indian-origin entrepreneur here, that uses the iPad but brings kids back into the real world of play.
