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.
In yet another bold statement, Tesla CEO Elon Musk has announced that the company's full self-driving feature will be completed by the end of this year.
Scientists are using humans' gait, body symmetry and foot placement to teach self-driving cars to recognise and predict pedestrian movements with greater precision than current technologies.
Offering its over two billion monthly users new ways to express themselves, Facebook has introduced new music features, including an option to add a song to photos and videos they share to Facebook Stories.
TORONTO — A class-action lawsuit has been proposed in Canada against Facebook following a security breach that put the accounts of tens of millions of users at risk.
Are you addicted to your smartphones, laptops and tablets? The blue light emitting from these digital devices can affect your eye's retina and lead to age-related macular degeneration, according to a research led by a professor of Indian-origin.
