Elon Musk subpoenas former Twitter chief Jack Dorsey


The documents that were made public on Monday indicate Dorsey was given a court order to hand over to Musk any information or documents in connection with the deal that was signed in April along with information the issue of fake accounts, or the way Twitter determines the number of active usersSan Francisco, United States: Elon Musk has served the former Twitter director Jack Dorsey with a subpoena in search of information to assist him in getting out of buying the massive social media site for $44 billion , as per the agreement.

Documents released on Monday reveal Dorsey was issued a legal notice to hand over to Musk any documents or communications that were related to the takeover deal that was signed in April and also information fake or spam accounts, or the way Twitter determines the active users.

The subpoena demands everything Dorsey has to say about the subject that date back to January 2019.

Read more A company that is using AI/ML to aid businesses in gauging the mood of users

Tesla CEO Musk who is the world’s richest man is suing Twitter of fraud, claiming that the company misled him on the most important aspects of its operations including the amount of accounts that are automated or spam “bots” instead of people.

Twitter has remained true to its claims that bots make less than 5 percent of its users.

Twitter also denied Musk’s claim that Musk has the right leave if its bot count proves to be incorrect, as Musk did not seek out information on the subject prior to making the purchase offer.

The company has accused Musk of concocting a lie to get around a merger agreement that he didn’t find appealing.

“Musk’s counterclaims, based as they are on distortion, misrepresentation, and outright deception, change nothing,” Twitter stated in an application to the court.

Lawyers from rival firms have served subpoenas to request documents or depositions from a broad variety of people involved with the buyout and Twitter’s operations, and even the holding company created by Musk.

Co-founder of Twitter Dorsey in November last year, ended his second term as CEO of the company. He expressed his support for Musk taking over the company.

The Twitter agreement included a clause that in the event that the deal falls to pieces, the party that broke the agreement would be required to pay an amount equal to $1 billion in certain situations.

A staggering amount of money is at the risk and also the fate of Twitter and its users. Musk has declared should allow all legal speech, an absolute opinion that has raised fears that the platform might be used as a tool to promote violence.

The legal battle is gaining speed as the preparations are underway for a trial set for October Delaware’s Chancery Court, which specializes in high-stakes, complex business litigation.

Twitter has asked shareholders to support the deal, and set an election on the merger to be held on the 13th of September.

When he was asked questions at the recent Tesla shareholders’ meeting Musk was asked if his ownership of Twitter could distract him from the direction he takes for the electric car maker.

“I think Tesla, you know, would continue to do very well even if I was kidnapped by aliens, or went back to my home planet,” the comedian joked, attracting applause and laughter.

“To be frank, I don’t have an easy answer,” Musk said.

He assured investors that for the moment there are no plans to quit his Tesla primary position.

Read more Inside PE True North’s investment in late-stage Indian companies


Please enter your comment!
Please enter your name here

Share post:




More like this

ERP Modules: Types and Characteristics

Multiple options might be discovered while examining business management...

Agritech start-up Otipy is appointing Rohit Sood as its chief executive officer

Rohit Sood has been selected to be the chief...

Nykaa Q2: Profits up 333% year-over-year to the sum of Rs 5.2 crore Revenue up 39%

The second quarter in the fiscal year currently in...

Decentro is a fintech company has received $4.7M in the Series A round of capital

Funded by Y Combinator, a banking and payments API...