As part of his defense against the tech company’s lawsuit asking that he be held to his $44 billion buyout agreement, Elon Musk filed accusations against Twitter on Friday.
According to a notification from the Delaware Chancery Court, Musk’s counter-suit was filed along with a legal argument against Twitter’s assertion that the billionaire is legally required to complete the acquisition of Twitter that he announced in April.
The 164-page submission was marked as “confidential,” which meant that the public could not view the contents, according to the notification.
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Musk must submit a public version of the document, with any trade secrets or other sensitive material redacted, per court rules.
Twitter’s case against Musk will go to trial for five days starting on October 17, according to a judge’s decision.
The Twitter board was courted by the Tesla CEO with a $54.20 per-share offer, but he later stated he was “terminating” their partnership after alleging the company had deceived him about its count of phony and spam accounts.
Twitter, whose stock price ended Friday’s trading session at $41.61, has held by its assumptions regarding accounts that are managed by software “bots” rather than actual individuals, and has claimed that Musk is inventing justifications to break the contract.
A vote on the merger has been scheduled on September 13 after the social media platform asked shareholders to support the agreement.
As stated in a draft of a letter to investors, Twitter CEO Parag Agrawal and board chairman Bret Taylor “are committed to concluding the transaction on the price and terms agreed upon with Mr. Musk.”
Billions of money are on the line, but Twitter’s survival is also in jeopardy since Musk has stated that the platform should permit any lawful speech, an absolutist stance that has raised concerns that the network may be used to promote violence.
