Elon Musk has filed a countersuit against Twitter over $65 billion deal – Michmutters

Elon Musk has filed a countersuit against Twitter over $65 billion deal

Elon Musk has countersued Twitter, escalating his legal fight against the social media company over his bid to walk away from the $US44 billion (more than $65 billion) purchase.

While the 164-page document was not publicly available, under court rules a redacted version could soon be made public.

Musk’s lawsuit was filed on Friday, hours after Chancellor Kathaleen McCormick of the Delaware Court of Chancery ordered a five-day trial, beginning on October 17, to determine if Mr Musk can walk away from the deal.

Twitter did not immediately respond to a request for comment.

Also on Friday, local time, Mr Musk was sued by a Twitter shareholder, who asked the court to order the billionaire to close the deal, finding that he breached his fiduciary duty to Twitter shareholders and awarded damages for losses he caused.

Elon Musk looks down at his smartphone.
The world’s richest man is also being sued by Twitter shareholder. (Reuters: Joe Skipper)

Mr Musk owes a fiduciary duty to Twitter’s shareholders because of his 9.6 per cent stake in the company and because the takeover agreement gives him a veto of many of the company’s decisions, according to the lawsuit, which seeks class action status.


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