Elon Musk countersues Twitter over merger, but details aren’t yet public

Elon Musk countersues Twitter over merger, but details aren’t yet public


Tesla CEO Elon Musk.

Patrick Pleul | AFP | Getty Images

Elon Musk countersued Twitter on Friday, intensifying the conflict between the Tesla CEO and the social networking company he agreed to buy, but the lawsuit is not yet available to the public.

It wasn’t clear why Musk wanted to carry out a countersuit in private when the billionaire, who is also the CEO of SpaceX, had been vocally critical of Twitter on social media and in press interviews in recent months.

On April 25, 2022 Twitter and Musk announced Musk would buy the social networking company and take it private for about $44 billion. Shortly after Musk struck the $44 billion deal, a market downturn led to a decline in tech stocks including both Tesla and Twitter.

Soon after they signed the deal, Musk accused Twitter of lying about the number of spam and bot accounts on its platform, and denying him access to information about their handling of these accounts. Musk formally said he wanted to terminate the deal earlier this month, and Twitter sued him in the Delaware Court of Chancery to force him to go through with the deal.

Musk’s legal team filed a confidential countersuit in a Delaware court on Friday confidentially, meaning a copy was not available to the public immediately, but a version of it could be made public in the near future with sensitive details redacted.

The judge ruling on the case, Chancellor Kathaleen St. J. McCormick, on Thursday night issued an order that set a schedule including for a five-day trial to start on October 17.



Source

OpenAI acquires popular tech podcast TBPN
Technology

OpenAI acquires popular tech podcast TBPN

OpenAI CEO Sam Altman addresses the gathering at the AI Impact Summit, in New Delhi, India, February 19, 2026. Bhawika Chhabra | Reuters OpenAI announced that it has acquired the technology news podcast TBPN, according to a message shared with employees on Thursday. TBPN is a daily podcast hosted by John Coogan and Jordi Hays […]

Read More
Amazon to add 3.5% fuel and logistics surcharge for sellers as Iran war drives up energy prices
Technology

Amazon to add 3.5% fuel and logistics surcharge for sellers as Iran war drives up energy prices

An Amazon employee works to fulfill same-day orders during Cyber Monday, one of the company’s busiest days, at an Amazon fulfillment center in Orlando, Florida, on Dec. 2, 2024. Miguel J. Rodriguez Carrillo | Getty Images Amazon is adding a 3.5% “fuel and logistics-related surcharge” to fees it collects from third-party sellers who use its […]

Read More
Family offices stall deal-making during Iran conflict
Technology

Family offices stall deal-making during Iran conflict

Azim Premji, Founder Chairman of Wipro, speaks during the inauguration of the Wipro Hydraulic Plant in Jaipur, Rajasthan, India, on Aug. 22, 2024. Vishal Bhatnagar | Nurphoto | Getty Images A version of this article first appeared in CNBC’s Inside Wealth newsletter with Robert Frank, a weekly guide to the high-net-worth investor and consumer. Sign up to […]

Read More