Skip to main content

Elon Musk subpoenas former Twitter CEO Jack Dorsey in takeover dispute

Elon Musk has subpoenaed his friend and former Twitter CEO Jack Dorsey as part of an effort to back out of his $44bn agreement to acquire the social media platform.

The subpoena was revealed in a court document on Monday.

Musk and Twitter are embroiled in a legal battle after the billionaire businessman offered to buy the company – then tried to back out, claiming that Twitter had failed to provide adequate information about the number of fake, or “spam bot”, accounts on the platform. Twitter argues that Musk’s reasons for backing out are just a cover for buyer’s remorse.  Twitter and Musk are headed for a 17 October trial in Delaware that should determine whether or not the company can force him to go through with the acquisition.

In recent weeks, Twitter has subpoenaed a host of tech investors and entrepreneurs connected to Musk, including the prominent venture capitalist Marc Andreessen and David Sacks, the founding chief operating officer of PayPal.  Bot and spam accounts have become a central issue in the legal fight over whether the Tesla CEO must complete the deal. Musk’s team expects more information about the bot numbers to be revealed in the trial court discovery process, when both sides must hand over evidence.

Last week, a judge ruled that Twitter must give Musk documents from a former Twitter executive, who Musk said was a key figure in calculating the number of fake accounts on the platform. Twitter was ordered to collect, review and produce documents from former general manager of consumer product Kayvon Beykpour, according to the order from the Delaware court of chancery.

Shortly after Musk agreed to pay 38% above Twitter’s stock price, the stock market stumbled and shares of the electric-car maker Tesla, where most of Musk’s personal wealth resides, lost more than $100bn of their value...

Comments

Post a Comment

Popular posts from this blog

Liverpool shooting: Girl, 9, shot dead and two injured

A nine-year-old girl has died after being shot in Liverpool. An unknown man was reported to have fired a gun inside a house in the Knotty Ash area at 22:00 BST on Monday. The girl was shot in the chest and died in hospital. A man also suffered gunshot wounds to his body and a woman was shot in the hand. Merseyside Police has put a cordon in place as officers hunt the gunman. Assistant Chief Constable Jenny Sims said the shooting was "truly shocking".  "No parent should ever have to suffer the loss of a child in these dreadful circumstances," she said. "This crime is abhorrent and our communities must come forward and tell us who is responsible. "This cowardly individual does not deserve to be walking the streets and I would urge those who know anything to speak to us and tell us what they know so that we can put the person responsible behind bars where they belong." The girl's next of kin has been informed. The injured man and woman we...
Post a Comment
Read more

A Harvard nutritionist shares the No. 1 vitamin that keeps her brain ‘young and healthy’—and foods she eats ‘every day’

As a nutritional psychiatrist, I always make it a point to maintain a well-balanced diet. Much of that has to do with making sure I get all the right vitamins, especially because it’s essential to preventing cognitive decline. And given that the risk of neurological diseases increases as we get older, one question I often get from my patients is: “What is the best vitamin for protecting our aging brains?” Each of our microbiomes is like a thumbprint, so a truly effective eating plan is personalized to the unique needs of an individual. But the vitamin group I prioritize the most to keep my brain young and healthy are B vitamins. The brain benefits of B vitamins Depression, dementia and mental impairment are often associated with a deficiency of B vitamins, a study from the Wayne State University School of Medicine found. “A B12 vitamin deficiency as a cause of cognitive issues is more common than we think, especially among the elderly who live alone and don’t eat properly,”...
Post a Comment
Read more