Musk filed a counterclaim against Twitter

American billionaire Elon Musk has filed a counterclaim against Twitter over a $44 billion deal.

It is reported by Ukrinform with reference to Reuters.

Elon Musk filed a counterclaim against Twitter Inc (TWTR.N) on Friday, escalating its legal battle with the social network over its attempt to back out of a $44 billion purchase.

It is noted that the lawsuit was filed confidentially and the 164-page document is not publicly available, however, according to court rules, an edited version may soon be made public.

Musk’s lawsuit comes just hours after the court set a five-day trial for Oct. 17 over Musk’s withdrawal from the agreement to buy Twitter Inc.

Read also: Twitter v. Musk Trial Set for October

Also on Friday, Musk was sued by a Twitter shareholder, asking the court to order the billionaire to close the agreement and admit that he violated his trust obligations to Twitter shareholders, as well as to award compensation for damages caused to him.

As Ukrinform reported, Twitter Inc. on Tuesday, July 12, filed a lawsuit against billionaire Elon Musk to force him to complete an earlier agreement to acquire the social network for $44 billion. The court must determine whether Musk has enough arguments about the violation of the terms of the agreement by the social network so that he can refuse it.

Last week, the Delaware Court of Chancery (USA) ruled in favor of Twitter Inc. in an expedited trial. The trial will last five days in October.

Photo: Britta Pedersen-Pool/Getty Images

Leave a Reply

Your email address will not be published.

Back to top button