Elon Musk and Twitter throw off money three weeks before the trial

Lawyers for Twitter and Elon Musk discussed the evidence each party is due to present on Tuesday, three weeks ahead of an unprecedented trial over an alleged $44 billion takeover of the network.

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“Let’s drop the rhetoric and get to the heart of the matter,” exclaimed U.S. Judge Kathleen McCormick after more than three hours of arguing during a preliminary hearing organized via Zoom.

Lawyers for the world’s richest man have again called for access to more data on inaccurate or fraudulent accounts at the heart of their client’s divestment case.

On the other hand, they believe Twitter is asking them for too much information about their correspondence with Peter Zatko, the social network’s former security chief-turned-whistleblower who this summer accused his former company of covering up computer vulnerabilities and lying about its fight against fake news. accounts.

In early July, a San Francisco group sued Elon Musk to force him to honor an acquisition agreement signed in late April.

According to the board of directors, the proportion of spam on the platform is an excuse put forward by a businessman who would change his mind if he saw the value of companies on the stock market drop in recent months.

Lawyers for Twitter on Tuesday denied abusing an attorney-client’s privilege to withhold certain documents.

According to multiple news reports, they are due to question Elon Musk in a closed-door deposition, which has been rescheduled for October 6-7.

The trial is scheduled to open on October 17 in a specialized court in Delaware (US East Coast) and will last five days.

The market has long favored Twitter as Delaware law favors contract compliance a priori. And Chief Justice Kathleen McCormick gave the company a speedy legal battle, while the multibillionaire wanted to wait until next year and demanded astronomical amounts of data.

But the whistleblower’s unexpected intervention added a new dimension to the case as the judge allowed Elon Musk to include the new allegations in his arguments.

The legal battle could lead to “a settlement, payment of commissions for breach of contract, an obligation to take over Twitter as planned, and a host of other outcomes,” Dan Ives of Wedbush Securities said Tuesday.

The analyst also continues to believe that “it is possible that the parties are negotiating behind the scenes.”

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