Elon Musk, the CEO of Tesla and Twitter, is embroiled in a squabble over an initial agreement. After Elon Musk declined to buy Twitter outright, the company took him to court. Elon Musk, CEO of Tesla, complains that Twitter has requested too much information from him. He claims that Twitter wants all of the acquisition-related chat content.
A team of Musk’s lawyers wrote to the judge overseeing the Twitter acquisition. They claim that, following a flurry of document requests related to the acquisition, Twitter is now looking for information on Musk’s interactions with friends, colleagues, and companies that go far beyond the scope of the case. Twitter is doing all of this in order to learn more about the funding.
Musk’s lawyers claim they turned over “dozens of individuals” related to “unique information” related to the financing in a letter to Delaware Chancery Court Judge Kathaleen St. J. McCormick. Twitter is now gathering more information from people who may have spoken briefly with Musk about the acquisition.
Twitter asking for more than it needs – Elon Musk
Musk and Twitter are both preparing for the October 17 trial, and they have issued numerous subpoenas to stock investors, advisers, and banks involved in the proposed acquisition. Musk issued subpoenas to ad tech firms Integral Ad Science and DoubleVerify on Thursday. He claims that Twitter underestimated the number of fake accounts on the platform in order to expedite the acquisition. Citadel CEO Ken Griffin and founders fund Growth II Management are among the deal’s co-investors. Other investors include PayPal co-founder and longtime Musk friend Peter Thiel.
The latest letter focuses on who is eligible to be a potential co-investor in Musk’s $7.1 billion bid for Twitter. Musk, for one, claims that Twitter wants to include anyone he spoke with about the deal. There has been no official comment from Twitter on this latest development.