Elon Musk issues Twitter co-founder and former CEO Jack Dorsey a subpoena in $44bn legal fight
Anish Vij
Featured Image Credit: PA Images / Newscom / Alamy
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.
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Musk also alleges the company has breached its obligations under the deal, by firing top managers and laying off a number of employees.
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.
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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.
Dorsey tweeted in April: “In principle, I don’t believe anyone should own or run Twitter.
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“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’.
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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.”
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