According to an insider familiar with the ongoing legal dispute between Tesla CEO Elon Musk, and Twitter’s founder, the tech mogul plans to bring a countersuit against Twitter within the next few days.
The New York Post reports that a source close to the ongoing lawsuit between Elon Musk and Twitter alleges that Musk plans to file a counter lawsuit against the social media company in the coming days. Musk’s attorneys are trying to get a Delaware Court of Chancery judge more time to collect information on bots on Twitter.
Last week, Twitter sued Musk in Delaware accusing the billionaire of agreeing to purchase Twitter and then attempting to “trash the company, disrupt its operations, destroy stockholder value, and walk away.” Musk has 20 days from when Twitter filed its lawsuit last Tuesday to file a counterclaim.
Twitter is requesting that the court force Musk to purchase Twitter at the agreed-upon price of $54. 20 per share while Musk is arguing that he should be allowed to terminate the deal because Twitter did not provide adequate information about fake accounts on the site. It was reported previously that Twitter granted Musk access to all of its user data, which would have taken data scientists several weeks to analyze. Musk asserts that this information is not sufficient.
The first hearing in Twitter’s suit is scheduled for today — Tuesday, July 19. Kathaleen McCormick, Delaware Court of Chancery Chancellor, is scheduled to comment on Twitter’s request for an expedited court hearing. Twitter’s lawyers are requesting a four-day trial starting in September while Musk wants to delay the trial until February 2023.
Musk lawyers responded to Twitter’s lawsuit by writing: “The core disagreement over spam accounts and false accounts is fundamentally important to Twitter’s value. This is also very fact-intensive and requires substantial time to discover .”
University of Iowa finance and corporate law professor Robert T. Miller stated in Monday’s Wells Fargo Investor Note that Twitter asked for a fast trial.
More information at the New York Post site.
Lucas Nolan is a reporter for Breitbart News covering issues of free speech and online censorship. Follow him on Twitter @LucasNolan