Rich Welsh| According to a source familiar with the legal fight between the Tesla CEO Elon Musk and Twitter, the billionaire plans to file a countersuit against Twitter sooner rather than later.
According to the New York Post, a source close to the lawsuit between Musk and Twiller maintains that Musk is planning to file a counter lawsuit against the censoring tech tyrant Twitter. Musk’s attorneys are tried to convince a judge in the Delaware Court of Chancery to grant them more time to gather information about bots on Twitter.
On Tuesday, Delaware Court of Chancery Chancellor Kathaleen McCormick ruled in Twitter’s favor for an expedited trial to force Elon Musk’s $44 billion acquisition of the bot-infected social media farce. A 5-day trial has been set to take place in October. Surprise!
Twitter filed a lawsuit against Musk last week in a Delaware court accusing the multi-billionaire of agreeing to purchase Twitter and then trying to “trash the company, disrupt its operations, destroy stockholder value, and walk away.” Musk had 20 days from when Twitter filed its lawsuit last Tuesday to file a counterclaim.
The reason Musk wants to back out of the deal is because Twitter has allegedly lied about the number of fake accounts [bots] on its website. That’s not being honest with advertisers who think they are paying for ads that are being seen by real human beings and not an army of bots.
In their lawsuit, Twitter is asking the court to force Musk to buy Twitter at $54.20 per share, the agreed upon price Musk offered, and the Tesla CEO is asking to be allowed to terminate the deal because Twitter refuses to provide adequate data and information on the fake accounts. By not providing the data necessary to see what percentage of accounts are fake, the original offer may have been too high because if there is a significant number of fake accounts, Musk can argue he was manipulated into thinking the company was worth far more than it really is.
In a filing with the Delaware Court on Friday, Musk’s attorneys alleged Twitter withheld information about the fake accounts and that the company created delays, provided evasive responses and putting up technical obstacles.
Musk’s lawyers wrote as much in their response to Twitter’s lawsuit, saying “The core dispute over false and spam accounts is fundamental to Twitter’s value. It is also extremely fact and expert intensive, requiring substantial time for discovery.”
In Musk’s filing, the attorneys repeated several other accusations their client previously made, including the argument that Twitter violated the acquisition agreement when the company fired two high-level managers without first informing Musk.
Twitter is run by leftists. I don’t trust them to be honest, even under oath in a courtroom.
Here’s the thing. Courts normally don’t like to force the purchase of a company in cases similar to Twitter’s lawsuit. The reason? Because the court understands by the very nature of the lawsuit that the buyer is no longer interested in the purchase. It doesn’t matter why. What matters is a judge doesn’t like to force someone who is no longer interested in buying a company because his actions, if forced to go through with the purchase, could do irreparable harm to the company by either misfeasance or malfeasance. Musk could just do to Twitter what Joe Biden is doing to our country; intentionally make terrible decisions and take actions that damage Twitter to the point where it fails. However, in the era of woke leftist activism on the courts, we’ll have to wait and see if the judge wants to help Twitter win a small temporary victory at the expense of the company and the jobs of everyone who works there.
