Twitter refutes Musk’s countersuit claims

Twitter refutes Musk’s countersuit claims

Elon Musk is attempting to get out of the deal by claiming that Twitter falsely exaggerated the number of phony accounts on the network. Still, Twitter has filed a court response rejecting his counterclaims against the company he plans to acquire. In a 127-page document, Twitter refutes Musk’s claims, calling them “a made-for-litigation story that is refuted by the evidence and basic sense.”

In its filing, the social network stated that these counterclaims “fail to support Musk’s plan to dishonor the merger agreement” and represent an attempt to get out of the merger agreement due to the market downturn.

Musk claims Twitter duped him into agreeing to a $44 billion merger while being advised by Wall Street bankers, attorneys, and the wealthy founders of several companies.

On Thursday, Twitter snarked in the publicly available file, “That story is as improbable and untrue as it sounds.”

Twitter board member Brett Taylor also issued a statement on the social media site, calling Musk’s claims “factually incorrect, legally inadequate, and commercially irrelevant.”

Musk “invents representations Twitter never made and then attempts to selectively use the enormous confidential data Twitter provided him to conjure a breach of those supposed representations,” according to Twitter.

Musk, on the other hand, claims, illogically, that Twitter violated the merger agreement by refusing to provide the information he requested.

Before Twitter’s lawsuit, both parties’ legal actions had been played out like a game of legislative tennis.

After Twitter sued Musk last month, a Delaware judge set the trial for October 17. Musk countersued the social network a few days later, and the case documents were sealed. In response, Twitter served subpoenas on Musk’s friends, including investors Joe Lonsdale and David Sacks and Peter Thiel’s Founders Fund. In retaliation, the Tesla CEO’s attorneys subpoenaed the companies that advised Twitter on the purchase agreements, JPMorgan Chase and Goldman Sachs.

Musk agreed to buy Twitter for $54.20 per share in a $44 billion transaction, but the stock has since fallen sharply, reaching a low of $32.65 in July. Twitter is currently trading at $41.77 per share.

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