Elon Musk, the CEO of Tesla and Twitter is in an ongoing brouhaha regarding an initial agreement. After Elon Musk declined from the outright purchase of Twitter, the company took Musk to court. Tesla CEO, Elon Musk complains that Twitter asked him for too much information. He claims that Twitter even wants all the chat content about the acquisition.
A team of lawyers representing Musk sent a letter to the judge overseeing the Twitter acquisition. They argue that after a flurry of document requests surrounding the acquisition, Twitter is now seeking information on interactions with Musk’s friends, colleagues and companies far beyond the scope of the case. Twitter is doing all these in an effort to obtain more details on the financing.
In a letter to Delaware Chancery Court Judge Kathaleen St. J. McCormick, Musk’s lawyers claim they had turned over “dozens of individuals” related to “unique information” related to the financing. Twitter is now mobilizing more information from people who may have had brief conversations with Musk about the acquisition.
Twitter asking for more than it needs – Elon Musk
Both Musk and Twitter are gearing up for the Oct. 17 trial and have issued numerous subpoenas to stock investors, advisers and banks involved in the proposed acquisition. On Thursday, Musk filed a notice of subpoenas to ad tech companies, Integral Ad Science and DoubleVerify. He claims that in order to push the acquisition smoothly, Twitter underestimated the number of fake accounts on the platform. Co-investors in the deal include Citadel CEO Ken Griffin and founders fund Growth II Management. Other investors are PayPal co-founder and longtime friend of Musk, Peter Thiel.
In the latest letter, the debate centers on who qualifies as a potential co-investor in Musk’s $7.1 billion bid for Twitter. Musk, for his part, claims Twitter want to include anyone Musk spoke to about the deal. Regarding this latest development, there is no official comment from Twitter on the issue.