Gadgets Africa
  • News
    Paystack co-founder Shola Akinlade acquires Danish football club

    Paystack co-founder Shola Akinlade acquires Danish football club

    AI company Cerebras releases ChatGPT-like models

    AI company Cerebras releases ChatGPT-like models

    China urges Apple to strengthen data security, privacy protection

    China urges Apple to strengthen data security, privacy protection

    FTX's Bankman-Fried faces new indictment of bribing Chinese officials

    FTX’s Bankman-Fried faces new indictment of bribing Chinese officials

    Google to launch new features for teachers, students

    Google to launch new features for teachers, students

    Substack launches community fund for writers to own stake in company

    Substack launches community fund for writers to own stake in company

    Alphabet seeks dismissal of US antitrust lawsuit against Google

    Alphabet seeks dismissal of US antitrust lawsuit against Google

    Oxbotica, Google partner to deploy self-driving software

    Oxbotica, Google partner to deploy self-driving software

    Meta plans lower bonuses for staff -Report

    Meta plans lower bonuses for staff -Report

  • Apps
  • Cryptocurrency
  • featured
  • Telecommunications
  • Gadgets
  • FinTech
  • Tech leaders
Gadgets Africa
No Result
View All Result

Elon Musk fires back at Twitter in court battle

by Agency Report
July 30, 2022
in News
Reading Time: 1 min read
Elon Musk's Starlink denied access in China

(FILES) In this file photo taken on February 10, 2022 Elon Musk gestures as he speaks during a press conference at SpaceX's Starbase facility near Boca Chica Village in South Texas. - Twitter reported disappointing results on July 22, 2022, a miss that the social network attributed to "headwinds" including the uncertainty related to Elon Musk's buyout bid. The firm is locked in a legal battle with the mercurial Tesla boss over his effort to walk away from his $44 billion deal to purchase the platform, leaving the company in limbo. Twitter missed expectations with revenue of $1.18 billion, due to "advertising industry headwinds... as well as uncertainty related to the pending acquisition of Twitter by an affiliate of Elon Musk," the firm reported. (Photo by JIM WATSON / AFP)

Share on FacebookShare on TwitterShare on Telegram

Elon Musk on Friday filed claims against Twitter as he fights back against the tech firm’s lawsuit demanding he be held to his $44 billion buyout deal.

Musk’s counter-suit was submitted along with a legal defence against Twitter’s claim that the billionaire is contractually bound to complete the deal he inked in April to buy Twitter, the Chancery Court in the state of Delaware said in a notice.

The 164-page filing was submitted as being “confidential,” meaning the documents were not accessible by the public, the notice indicated.

Rules of the court, however, require Musk to submit a public version of the filing with trade secrets or other sensitive information redacted.

A judge has ordered a five-day trial over Twitter’s lawsuit against Musk to begin on October 17.

The Tesla boss wooed Twitter’s board with a $54.20 per-share offer, but then in July announced he was “terminating” their agreement on accusations the firm misled him regarding its tally of fake and spam accounts.

Twitter, whose stock price closed at $41.61 on Friday, has stuck by its estimates regarding accounts run by software “bots” rather than people, and argued that Musk is contriving excuses to back out of the contract.

The social media platform has urged shareholders to endorse the deal, setting a vote on the merger for September 13.

“We are committed to closing the merger on the price and terms agreed upon with Mr. Musk,” Twitter chief executive Parag Agrawal and board chairman Bret Taylor said in a copy of a letter to investors.

Billions of dollars are at stake, but so is the future of Twitter, which Musk has said should allow any legal speech — an absolutist position that has sparked fears the network could be used to incite violence.

Tags: Elon MuskTwitter
ADVERTISEMENT

Related Posts

Paystack co-founder Shola Akinlade acquires Danish football club
News

Paystack co-founder Shola Akinlade acquires Danish football club

by Alex Omenye
March 28, 2023
AI company Cerebras releases ChatGPT-like models
News

AI company Cerebras releases ChatGPT-like models

by Alex Omenye
March 28, 2023
China urges Apple to strengthen data security, privacy protection
News

China urges Apple to strengthen data security, privacy protection

by Joy Onuorah
March 28, 2023
FTX's Bankman-Fried faces new indictment of bribing Chinese officials
News

FTX’s Bankman-Fried faces new indictment of bribing Chinese officials

by Joy Onuorah
March 28, 2023
Next Post
Minister of Power Abubakar Aliyu

Nigeria to get €63m mega transformers September

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Recommended.

YouTube introduces usernames for users

Youtube to pay video creators 45% ads revenue

September 21, 2022

Flutterwave launches new App

November 19, 2022

Trending.

NCC hosts state govs for broadband awareness forum

Pantami urges officials to tackle insecurity with data

September 19, 2022
Buhari enacts startup bill

Buhari enacts startup bill

October 19, 2022
Hackers leak French hospital's patient data

Hackers leak French hospital’s patient data

September 26, 2022
How infrastructure investment boosts Internet penetration – Experts

Subsea Internet cables can detect earthquakes – UK lab

May 22, 2022
Canva releases new AI-powered tools

Canva releases new AI-powered tools

March 23, 2023
Gadgets Africa

© 2023 Gadgets Africa.

Navigate Site

  • News
  • Apps
  • Cryptocurrency
  • featured
  • Telecommunications
  • Gadgets
  • FinTech
  • Tech leaders

Share

No Result
View All Result
  • News
  • Apps
  • Cryptocurrency
  • featured
  • Telecommunications
  • Gadgets
  • FinTech
  • Tech leaders

© 2023 Gadgets Africa.

Go to mobile version