unilad homepage
  • News
    • UK News
    • US News
    • World News
    • Crime
    • Health
    • Money
    • Sport
    • Travel
  • Film and TV
    • Netflix
  • Music
  • Tech
  • Features
  • Celebrity
  • Politics
  • Advertise
  • Terms
  • Privacy & Cookies
  • LADbible Group
  • LADbible
  • SPORTbible
  • GAMINGbible
  • Tyla
  • UNILAD Tech
  • FOODbible
  • License Our Content
  • About Us & Contact
  • Jobs
  • Latest
  • Archive
  • Topics A-Z
  • Authors
Facebook
Instagram
X
Threads
TikTok
YouTube
Submit Your Content
Elon Musk issues Twitter co-founder and former CEO Jack Dorsey a subpoena in $44bn legal fight

Home> News

Updated 09:38 23 Aug 2022 GMT+1Published 07:32 23 Aug 2022 GMT+1

Elon Musk issues Twitter co-founder and former CEO Jack Dorsey a subpoena in $44bn legal fight

The Tesla CEO pulled out of buying Twitter

Anish Vij

Anish Vij

google discoverFollow us on Google Discover
Featured Image Credit: PA Images / Newscom / Alamy

Topics: Elon Musk, Twitter

Anish Vij
Anish Vij

Anish is a Journalist at LADbible Group and is a GG2 Young Journalist of the Year 2024 finalist. He has a Master's degree in Multimedia Journalism and a Bachelor's degree in International Business Management. Apart from that, his life revolves around the ‘Four F’s’ - family, friends, football and food. Email: [email protected]

X

@Anish_Vij

Advert

Advert

Advert

Elon Musk has issued Twitter co-founder Jack Dorsey a subpoena ahead of his $44bn (£37bn) legal fight.

On October 17 a trial will be taking place in Delaware to determine if the Tesla CEO will go through with his acquisition of the social media company.

The world's richest man claimed he pulled out of the deal because Twitter allegedly 'made false and misleading representations'.

Musk said that Twitter failed to provide a sufficient amount of information with regards to the number of 'spam bot' Twitter accounts.

Advert

Musk also alleges the company has breached its obligations under the deal, by firing top managers and laying off a number of employees.

Elon Musk has issued Twitter co-founder Jack Dorsey a subpoena ahead of his $44bn (£37bn) legal fight.
SOPA Images Limited / Alamy Stock Photo

However, Twitter say that the billionaire is covering up for losing money on the Stockmarket after Musk agreed to pay 38 percent above Twitter’s stock price.

Tesla shares lost more than 100 billion dollars (£85 billion) of their value at the time.

Well, the subpoena was served last week. 

It asks Dorsey for documents and communications related to the acquisition, as well as information on the effect of fake or spam accounts on Twitter’s business and its measurement of daily active users.

Jack Dorsey.
WENN Rights Ltd / Alamy Stock Photo

Dorsey tweeted in April: “In principle, I don’t believe anyone should own or run Twitter.

“It wants to be a public good at a protocol level, not a company.”

“Solving the problem of it being a company, however, Elon is the singular solution I trust.

“I trust his mission to extend the light of consciousness.”

In Twitter’s original lawsuit, which was filed on 12 July, the company said Musk needed to honour their agreement - having even used Musk's own tweets against him as hopeful evidence that his back-pedalling is simply due to the deal no longer serving his 'personal interests’.

On October 17 a trial will be taking place in Delaware to determine if the Tesla CEO will go through with his acquisition of the social media company.
REUTERS / Alamy Stock Photo

The lawsuit reads: “Musk entered into a binding merger agreement with Twitter, promising to use his best efforts to get the deal done,” the lawsuit said. 

“Now, less than three months later, Musk refuses to honour his obligations to Twitter and its stockholders because the deal he signed no longer serves his personal interests.” 

If you have a story you want to tell, send it to UNILAD via [email protected]  

Choose your content:

13 mins ago
17 mins ago
2 hours ago
  • Getty Images
    13 mins ago

    OnlyFans star claims Sydney Sweeney scene would be banned for violating key rule

    The new season of 'Euphoria' has triggered waves of discourse, mostly thanks to the OnlyFans antics of Sydney Sweeney's character

    Celebrity
  • Photo by Stephane Cardinale - Corbis/Corbis via Getty Images
    17 mins ago

    Dylan Sprouse breaks on holding intruder at gunpoint while wife called police

    The incident took place at Dylan Sprouse and Barbara Palvin's LA home on April 17

    Celebrity
  • Kevin Winter/Getty Images
    2 hours ago

    Euphoria star Chloe Cherry reveals how she feels about Sydney Sweeney storyline as ex adult film star

    The Faye actress explained why it 'feels crazy as f**k'

    Film & TV
  • Getty stock
    2 hours ago

    'Crymaxing' sex trend explained as influencer sparks confusion by putting tears in hair

    Looksmaxxing influencer Dillon Latham actually has his own version of the trend 'crymaxing'

    News
  • Jury rules against Elon Musk in major Twitter lawsuit that could cost him billions
  • Elon Musk issues severe threat to Apple as ChatGPT CEO launches scathing allegation against Tesla boss
  • Elon Musk issues fierce response after claims Tesla board launched search to replace him as CEO
  • Grimes makes unexpected claim about ex Elon Musk as they balance their co-parenting relationship