Elon Musk against Twitter Inc. on Friday, increased his legal struggle for social media companies for his efforts to leave a purchase of $ 44 billion, even though the lawsuit was filed in secret.
While the 164 -page document is not available to the public, under the deleted version of the court rules immediately published.
Musk’s lawsuit was filed for hours after Chancellor Kathaleen McCormick from the Court of the Delaware Chancellor ordered the trial of five days starting October 17 to determine whether the Musk could leave the agreement.
Twitter did not immediately respond to a comment request.
Also on Friday, Musk was sued by Twitter shareholders who asked the court to order a billionaire to close the agreement, found that he violated the fiduciary duties to Twitter shareholders and provided damage to the losses caused.
Musk owes a fiduciary task to Twitter shareholders because of 9.6 percent of its shares in the company and because the takeover agreement gives him veto rights from many company decisions, according to the lawsuit, looking for class status. The lawsuit was filed by Luigi Crispo, who has 5,500 Twitter shares, in the Chancellor Court.
Musk, the richest person in the world and executive chief Tesla Inc., said on July 8 he left the takeover and blamed Twitter Inc. for violating the agreement by misinterpreting the number of fake accounts on his platform.
Twitter sued a few days later, mentioning a fake account claiming the disturbance and said Musk was bound by a merger contract to close the agreement at a price of $ 54.20 per share. The company’s shares ended on Friday at $ 41.61, the highest closure since Musk left an agreement.
McCormick quickly tracks this case to be tried last week, said he wanted to limit the potential for damage to Twitter caused by the uncertainty of the agreement.
Twitter has blamed the court struggle for declining income and caused chaos in the company.
Both parties have basically approved the trial on October 17, but disagreeing on the limits of the discovery, or access to internal documents and other evidence.
Musk accused Twitter this week of dragging his feet in a response to the request of his discovery, and Twitter accused him of finding large amounts of data that was not relevant to the main problem in this case: Has Musk violated the agreement contract.
The chairman of the judge in his order on Friday seems to anticipate the dispute over the discovery.
“This order does not resolve certain discovery disputes, including propriety from each request for large data sets,” McCormick said.
Musk also faced trial for a week in Wilmington, Delaware, starting October 24. A Tesla shareholder is trying to cancel as a company waste and unfair enrichment from the $ 56 billion CEO of the CEO of the electric vehicle maker.
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