Battle Begins: Elon Musk to Counter-Sue Twitter Over Merger Deal

July 19th, 2022 3:48 PM

Tesla CEO Elon Musk is reportedly planning to counter-sue Twitter in an ongoing legal battle over the billionaire’s halted purchase of the social media company.

Musk has attempted to stop his purchase of Twitter after he said the company did not provide enough necessary information on its number of bot accounts. Twitter then sued Musk. The New York Post said that a source informed the outlet Musk planned to counter-sue.

Twitter accused Musk of trying to “trash the company, disrupt its operations, destroy stockholder value, and walk away” after agreeing to purchase the platform, New York Post wrote.

Musk’s lawyers aim to push Delaware Court of Chancery judge Kathaleen McCormick to give them more time and “power” to gather the information on Twitter’s bots, the Post wrote. The outlet speculated that a “protracted legal battle” could cause Twitter stock to drop and allow Musk to buy the platform at a lower price than his initial offer of $44 billion.

The first hearing for the original Twitter suit against Musk is July 19, the Post reported. Twitter was reportedly pushing for its case against Musk to go to trial starting in September, while Musk prefers a trial no earlier than February 2023.

Twitter wants Musk to buy the platform under the original terms struck while Musk insists that the deal cannot go through because Twitter has not provided necessary information.

McCormick granted Twitter a five-day trial in October for its case against Musk, according to Yahoo! News.

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