Report: Elon Musk to sue Twitter

The tech billionaire plans to take on Twitter in the coming days, according to a source close to the ongoing legal battle between Tesla CEO Elon Musk and Twitter.

New York Post A source close to the ongoing lawsuit between Elon Musk and Twitter reported that Musk claims that he plans to counter the social network in the coming days. Musk’s lawyers are reportedly trying to persuade a Delaware Chancery judge to give them more time to gather information about the Twitter bots.

Last week, Twitter sued Musk in Delaware, accusing the billionaire of agreeing to buy Twitter and then trying to “collapse the company, disrupt its operations, undermine shareholder value and leave.” Musk has 20 days since Twitter filed a counterclaim last Tuesday.

While Twitter asked the court to force Musk to buy Twitter at the agreed price of $54.20 per share, Musk argues that Twitter should be allowed to terminate the deal because it did not provide enough information about fake accounts on the site. However, it was previously reported that Twitter has given Musk full access to the “fire hose” of internal user data that will take several weeks for data scientists to review. Musk says that knowledge is still not enough.

The first hearing of the Twitter case will be held today, Tuesday, July 19. Delaware Chancellor Catalyn McCormick is expected to weigh in on Twitter’s request for a speedy trial. While Twitter’s lawyers have requested a four-day hearing to begin in September, Musk is seeking to adjourn the case to February 2023.

In response to the Twitter lawsuit, Musk’s lawyers wrote: “The fundamental debate about fake and spammy accounts is crucial to the value of Twitter. It’s also rich in facts and experts that took a long time to discover.”

University of Iowa corporate and financial law professor Robert T. Miller said in a Wells Fargo investor note Monday that the chancellor would “probably accept” Twitter’s request for a speedy trial.

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