New Delhi: Tech billionaire Elon Musk has filed a counter-suit against Twitter over a $44 billion acquisition deal as part of an ongoing legal dispute with the microblogging platform. However, the lawsuit is not yet accessible to the public and a partially modified version may soon be available under court rules. As CNBC reports, it was not clear why Musk asked the court to keep the details of his countersuit confidential after the Tesla and SpaceX CEOs had vocally criticized Twitter on social media and in press interviews in recent months. .
Recently, in a tweet to Musk, a follower wrote that under SEC Rule 10b-5, Twitter “may be liable for omission or misleading of material facts. Skipping due diligence does not mean you have to A fraudulent disclosure would have to be accepted (underestimated by bots)”. (Also Read: ITR Filing For Financial Year 2021-22: Filing ITR With Multiple Form 16? Here’s How To Do It)
Musk replied: “Absolutely.” (Also Read: ITR Filing For Financial Year 2021-22: Here’s What Happens If Income Tax Returns Not Filing On July 30)
The tech billionaire ended a $44 Twitter acquisition deal because he didn’t believe CEO Parag Agarwal told him about the actual number of bots on the platform.
When Musk threatened to cancel the $44 billion Twitter acquisition deal, the micro-blogging platform revealed it was suspending more than 1 million spam accounts a day.
Meanwhile, a US judge in the Twitter vs Musk legal battle has set October 17 as the start date for the high-profile trial.
Judge Kathleen McCormick in the Delaware Court of Chancery has issued an official schedule in which the high-profile trial will begin October 17-21.
Twitter wanted the test to begin on October 10, but Musk said he wanted it to begin a week later, emphasizing that the extra week of preparation would be crucial.