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 you have a pacemaker, you may no longer have to go under the knife every ten years just to replace the battery as researchers have now developed a chemistry that could extend battery life beyond what was earlier thought possible.
Love photography? Here comes a new-age camera that allows photographers explore "living picture" - making it possible for them to refocus the photos even after taking them.
You need not see red if you find your remote control broken just before the start of a match as you can now fix it just by painting it with a brush. All you need to do after that is wait for it to get dried up!
An Indian-American student at Massachusetts Institute of Technology, US, has devised a formula that tells how the contents of a photograph may predict its popularity online.
What if selfies posted on Twitter can reveal our mood - whether people who live in “happier” cities tend to post more selfies and whether they smile more while taking self-portraits?
In what could make the dream of owning a house a reality for a large section of people in developing countries, a Chinese company has devised a method of 3D printing a house.
