Following Elon Musk’s move to back out of a Twitter buyout, and his push for a trial regarding the case in 2023, the Tesla CEO is looking to countersue as the social media company tries to use the courts to force his takeover to be completed as planned.
Musk is looking to file a counter-lawsuit against Twitter in an attempt to move away from the $44 billion contract initially made with the social media company, according to a report from the New York Post.
Lawyers representing Musk are urging a Delaware Court of Chancery judge to give them more time to gather information about Twitter’s bot data, said sources familiar with the matter.
Elon Musk Quotes Eminem in Court Filing Opposing SEC Oversight https://t.co/AL8QzskWCS
— TeslaNorth.com (@RealTeslaNorth) March 29, 2022
Ongoing legal battles could affect Twitter’s stock, which could ultimately give Musk more time to negotiate a lower deal than his purchase of the company at $54.20 per share.
The news also arrives after Twitter officially sued Musk last Tuesday to force him to go through with the deal, after which Musk has 20 days from that day to file his counterclaims.
In a statement earlier this week, Musk said that Twitter had the “sense of humor of a bot,” upon plans to countersue going public.
The first hearing in Twitter’s suit is scheduled for Tuesday and will be presided over by Delaware Court of Chancery Chancellor Kathaleen McCormick.
Update: A Delaware judge has allowed Twitter to begin its lawsuit against Musk in October, a 5-day trial:
BREAKING: Delaware judge allows Twitter to expedite the lawsuit against Elon Musk.
Watch live for updates: https://t.co/UICp9yRngo pic.twitter.com/CNw65PaC49
— Bloomberg TV (@BloombergTV) July 19, 2022
