Twitter is sending dozens of subpoenas to Elon Musk’s associates and financial partners as part of its lawsuit against the billionaire giant harassing fishing expedition for backing out of his deal to acquire the company. A US judge has granted Twitter a five-day fast-track trial starting on October 17 after the billionaire said he would rescind his $44bn (£36.6bn) bid for the networking company. social on July 8.
Twitter was pushing to have the court case heard in September because it said the ongoing dispute was hurting its business.
Its shares were trading as low as $32.65 on July 11, well below the $54.20 Musk had offered to pay for the company in April.
Chancellor Kathaleen St Jude McCormick, chief judge of the Delaware Court of Chancery, said, “Delay threatens irreparable harm. The longer the delay, the greater the risk.
Musk’s team had tried to postpone the trial until early next year due to the complexity of the case.
Its representatives accused Twitter of violating the terms of the acquisition agreement, in particular that it was not allowed to “make an independent assessment of the prevalence of fake or spam accounts.”
Joe Lonsdale, co-founder of Palantir Technologies, tweeted that he was among those giant harassing fishing expedition who had received a subpoena, describing the requests as a “giant stalking fishing expedition.”
Court documents reveal that the social media company sent subpoenas to global banks and others involved in financing the deal.
Twitters suspects “that behind the scenes he has been conspiring to blow everything up,” Professor Minor Myers of UConn Law School told Reuters.
The tycoon claims that the company did not provide him with enough information about giant harassing fishing expedition the number of fake Twitter accounts (spam bots).