- Elon Musk has filed a counterclaim against Twitter.
- The judge has set a five-day trial in Twitter’s lawsuit against Musk to begin on October 17.
- Billions of dollars are at stake, but so is the future of Twitter, which Musk says should allow any legal talk.
Elon Musk filed lawsuits against Twitter on Friday as he fights a tech company lawsuit demanding he be involved in its $44 billion takeover deal.
Musk’s counterclaim was filed in defense of Twitter’s claim that the billionaire is contractually obligated to complete the deal he signed in April to buy Twitter, as the Delaware Court of Chancery heard in the notice.
The notice states that the 164-page dossier was presented as “confidential”, meaning the documents were not publicly available.
However, court rules require Musk to submit a public version of the case with redacted trade secrets or other confidential information.
The judge has set a five-day trial in Twitter’s lawsuit against Musk to begin on October 17.
The Tesla boss enlisted the support of Twitter by offering $54.20 per share, but announced in July that it was “cancelling” their deal over allegations that the company was allegedly misled about the count of fake and spam accounts.
Twitter, which closed at $41.61 on Friday, is sticking to its estimates for accounts run by software “bots” rather than humans, and claims that Musk is making up excuses to get out of the contract.
The social media platform called on shareholders to approve the deal, setting a merger vote for September 13.
“We are committed to completing the merger at the price and terms agreed with Mr. Musk,” Twitter chief executive Parag Agrawal and chairman Bret Taylor said in a copy of the letter to investors.
Billions of dollars are at stake, but so is the future of Twitter, which Musk says must allow any legal speech — an absolutist stance that has raised fears the network could be used to incite violence.