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Elon Musk Strikes Back At Twitter, Will Countersue Social Media Company To Void $44B Buyout: Report

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Elon Musk will stroke back at Twitter according to The New York Post and will file a counter-lawsuit against Twitter in the coming days as the Tesla CEO tries to void his $44 billion agreement to buy the company.

Musk’s lawyers will ask a Delaware Court of Chancery judge to give them more time to gather information about the bots fake accounts on the social media platform that scuttled the deal for Musk.

This comes less than a week after Twitter sued Musk in Delaware. The company accussed Elon of agreeing to buy the company to “trash the company, disrupt its operations, destroy stockholder value, and walk away.”

It is funny the employees and media, who hate Musk and predicted the end of Democracy if Musk bought Twitter, now want to force him to buy it but so it goes. Musk has 20 days from last Tuesday to file his counterclaims. 

According to The New York Post:

Twitter’s lawyers are pushing for a four-day trial starting in September, while Musk wants the trial to open no earlier than February 2023. 

“The core dispute over false and spam accounts is fundamental to Twitter’s value,” Musk’s lawyers wrote in a filing on Friday in response to Twitter’s suit. “It is also extremely fact and expert intensive, requiring substantial time for discovery.” 

Musk’s countersuit would also be heard by McCormick.

The chancellor is “likely to grant” Twitter’s request for a quick trial, University Of Iowa law corporate and finance law professor Robert T. Miller said in a Monday Wells Fargo investor note obtained by The Post.

Musk then filing a countersuit would make sense because “if he doesn’t do that, he’s surrendering,” Miller added in an interview with The Post.

Miller — who used to work at Wachtell, Lipton, the law firm representing Twitter — doesn’t expect a countersuit to turn the tide in Musk’s favor if he reiterates the same claims about Twitter bots without new evidence.

But if Musk embraces new arguments, he could potentially win additional time or discovery power, Miller said.

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