The soap opera about Twitter’s “failed” takeover continues. Elon Musk indeed, according to our colleagues from Challenges, filed an appeal against the network. social. The complaint document is likely to be released on Friday. Elon Musk, who only notified the network social On July 29, 2022, Twitter teams have very little time to review the 163-page document and delete any confidential company information it contains. The entrepreneur’s lawsuit will be heard by Kathleen McCormick, a judge in the Delaware court, the state in which any lawsuits related to the network must in all cases be held. social. She was appointed as a judge in the case on July 13, 2022. In such cases in the United States, the defense usually has 5 business days to review the complaint documents and censor those parts that are considered confidential.
Twitter: Elon Musk’s message will be published on Friday, August 5, 2022.
The history of increased pressure on the Parag Argawal firm, Elon Musk calculated that a period of three working days would be more than enough. In passing, it should be noted that Kathleen McCormick has already judged controversial mergers of this type. In 2021, she even made the company honor son a merger agreement on the terms originally agreed. Twitter officials also seem fairly confident at this stage in their chances of winning this legal battle. Even if, in fact, Elon Musk’s reversals and attacks have already cost dearly to the company that survived the course son at the time of this writing, the stock has fallen below $41. On April 25, 2022, the entrepreneur signed an agreement to purchase the network social $54.20 per share – worth total in the amount of 44 billion dollars. But in the following weeks, Elon Musk announced the suspension of the takeover. According to him, the share of fake accounts on the network social well above the 5% claimed by Twitter in son latest report. He later accused the network social block him from accessing data that would allow him to verify it information… However, the agreement signed by the contractor does not contain any clause allowing the takeover to be suspended, which, among other things, could help the judge force Elon Musk to honor the agreement.
