Lawsuit Against Twitter, Elon Musk Files 164 Pages

JAKARTA - Elon Musk has privately responded to Twitter Inc's lawsuit about his plan to withdraw from a deal to buy Twitter worth $44 billion.

Reuters, quoted on Saturday, July 30, reported that the 164-page lawsuit was not open to the public. However, in the near future the file must be opened to the public based on court rules.

Twitter has no comment on the counterclaim.

The lawsuit was filed hours after Judge Kathaleen McCormick of the Delaware Court ordered a five-day trial starting Oct. 17. The court will decide whether Musk can back out of the business deal.

Quoted from ANTARA, Musk was also sued by Twitter shareholders who asked the court to order the billionaire to complete the purchase. According to them, Musk violated his fiduciary obligations to shareholders and compensated for his actions.

Musk has a fiduciary obligation to shareholders because he owns 9.6 percent of the shares. In addition, according to the lawsuit, he also has veto rights for a number of company decisions due to takeovers.

The class action lawsuit was filed by Luigi Crispo, he owns 5,500 stock valleys. In addition to the Twitter lawsuit, Musk also has to face a hearing in Wilmington, Delaware on October 24 from Tesla shareholders.

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Tag: twitter elon musk