A judge decided on Wednesday that Elon Musk’s response to Twitter’s lawsuit over his effort to back out of a $44 billion deal to purchase the social media firm will be made public on Today. Musk’s lawyers intended to publish a public version of their response and counterclaims in Delaware court on Wednesday. Twitter attorneys, on the other hand, protested that they needed additional time to study and potentially redact Musk’s sealed petition, claiming that it references “extensively” to internal Twitter information and data provided to Musk.
Chancellor Kathaleen St. Jude McCormick conducted a short teleconference Wednesday before agreeing with Twitter, requiring that the public filing be completed by Friday at 5 p.m. The filling may happen sooner if Twitter’s attorneys conclude their assessment.
Twitter lawyers contended that court regulations need a five-day waiting period before a public version of Musk’s submission is docketed.
“Few cases elicit as much public interest as this one, and Twitter is cognizant of this court’s commitment to allowing full public access to its proceedings,” Twitter attorney Kevin Shannon wrote. “Twitter has no desire to propose any further redactions to defendants’ reply pleading than is required.”
Edward Micheletti said that Twitter’s lawyers misinterpreted the court regulations. Musk’s attorneys also claim that there is no material in Musk’s submission that should be kept private.
“Twitter should not be allowed to continue hiding the side of the narrative that it does not want to be made public,” Micheletti wrote. Musk, the world’s richest man, agreed to acquire Twitter and take it private in April, giving $54.20 per share and promising to relax content policing and weed out false accounts. Twitter shares finished at $41 on Wednesday, down from a 52-week high of $69.81. Musk suggested in July that he want to withdraw from the arrangement, forcing Twitter to seek a lawsuit to compel Musk to honor the “seller-friendly” pact.
Musk claims Twitter has failed to give him sufficient information regarding the number of bot accounts on its platform. Twitter claims Musk, CEO of Tesla Inc., is attempting to deliberately derail the deal because market circumstances have worsened and the purchase no longer suits his interests. If either Musk or Twitter is determined to be at fault for the agreement’s failure, each side is entitled to a $1 billion breakup fee. Twitter, on the other hand, is seeking a court order of “particular performance” requiring Musk to carry out the arrangement.