HOUSTON: Tesla Chief Executive Officer (CEO) Elon Musk(pix) shot back at Twitter, filing a countersuit Friday against the social media company regarding Musk’s decision to abandon his US$44 billion takeover.
The 164-page document was sealed after the judge-imposed filing deadline, which means the contents of the countersuit are not accessible through public records.
“I have reviewed the counterclaims and declare that the matter contained therein insofar as it concerns my acts and deeds is true, and insofar as it relates to the acts and deeds of any other person, I believe it to be true,” said an accompanying filing signed by Musk, according to Anadolu Agency (AA).
Musk agreed to buy Twitter in April for US$54.20 per share in an unsolicited agreement.
But the billionaire announced in July that he was pulling out of the deal, alleging that Twitter misrepresented user data and the number of spam bots on the platform is much higher than the company originally disclosed.
Twitter dismissed those claims, stating that the number of bots was well under 5 per cent of total daily active users.
Delaware Court of Chancery judge Katharine McCormick granted Twitter’s request for an expedited trial during a preliminary hearing last week, with the five-day court battle set to begin Oct 17.
Musk’s attorneys originally requested that the trial start no earlier than February, arguing that his legal team needed more time to investigate fake accounts on Twitter’s online platform.
“The longer the merger transaction remains in limbo, the larger the cloud of uncertainty cast over the company,” said McCormick.
Under court rules, a redacted version of Musk’s countersuit may soon be made public.
Shares of Twitter dropped 0.7 per cent Friday to US$41.32 at the closing bell on Wall Street.-Bernama
