Twitter has sent dozens of subpoenas in recent days to the banks and investors that were backing Elon Musk in his bid to acquire the company, ...
Twitter also asked Valor for any information pertaining to Bob Swan, a former chief executive of Intel who played a key role in putting the deal together. A spokesman for Mr. Palihapitiya declined to comment. Twitter’s legal outreach over the past week also sought more information about conversations with a number of the Silicon Valley heavyweights Mr. Musk is known to be close to. Mr. Musk filed a response to Twitter’s lawsuit on Friday, though it is temporarily sealed to the public while he and Twitter negotiate which parts to redact. Both Mr. Palihapitiya and Mr. Sacks were at a private conference in which Mr. Musk expressed doubt about Twitter’s disclosures concerning its number of fake accounts. Twitter also asked for more information about any analysis that banks have done at Mr. Musk’s instruction about the number of fake users on its platform. Twitter’s ability to sue Mr. Musk to force him to close the deal, under its “specific performance clause,” is voided if his debt financing falls apart. Twitter is also requesting information about Mr. Musk’s decision to scrap his loan against his Tesla shares to help finance the deal. But Twitter claims in a lawsuit against Mr. Musk in Delaware Chancery Court that he appeared to have abandoned efforts to complete his financing, contravening the agreement. Representatives for Morgan Stanley and Barclays declined to comment. What Mr. Musk’s bankers demanded — and why — could be crucial for the deal. Mr. Musk had originally planned to take out a roughly $12 billion loan against his Tesla stock.
Twitter Inc. subpoenaed records from equity investors including a unit of Brookfield Asset Management Inc., and sought information on Marc Andreessen and a ...
Twitter Inc. subpoenaed records from equity investors including a unit of Brookfield Asset Management Inc., and sought information on Marc Andreessen and a host of venture capital figures, over Elon Musk’s financing of the $44 billion buyout it sued him to complete.
Twitter issued a number of subpoenas to associates of Elon Musk to gather more information ahead of a lawsuit against the Tesla CEO for backing out of a ...
Mr. Calacanis started an investment pool, known as a special purpose vehicle, to help smaller investors contribute to the deal. The second would be anything he said that contradicts his public statements about bots,” he told The Post. The first would be anything nice Musk said about Twitter to encourage people to participate in the equity financing. “We are committed to closing the merger on the price and terms agreed upon with Mr. Musk,” chief Twitter executive Parag Agrawal said in a statement to investors. After Mr. Musk attempted to back out of the deal in July, citing the proliferation of bots on the platform, Twitter sued, which prompted the billionaire to file a countersuit against the company on Friday. Twitter issued a number of subpoenas to associates of Elon Musk to gather more information ahead of a lawsuit against the Tesla CEO for backing out of a deal to purchase the social media platform.
Elon Musk's wealthy high tech allies don't seem too happy about receiving subpoenas from Twitter as part of the company's legal battle with the Tesla CEO.
According to a report from The Washington Post, Twitter’s legal team on Monday asked for information about a host of tech investors and entrepreneurs connected to Musk in a wide-ranging subpoena. Representatives for Sacks, Andreessen and Palihapitiya did not immediately respond to messages for comment on Tuesday. Lonsdale did not immediately respond to a message sent through LinkedIn. Well-known venture capitalists included in the subpoena, according to the report, are Marc Andreessen, founder of VC firm Andreessen Horowitz; former Facebook exec and CEO of Social Capital Chamath Palihapitiya; and David Sacks, the founding chief operating officer of PayPal and current general partner at Craft Ventures.
The new class action lawsuit is being filed by Twitter investor Luigi Crispo at the Delaware Chancery Court, which is also responsible for the trial between ...
Elon Musk is already engaged in a lawsuit with Tesla and SpaceX CEO is now getting sued by the social media platform’s investors as well. He also agrees with Twitter’s stance that Musk’s reliance on the statistics relating to bots and spam to back out of buyout has no legal standing. It’s currently $223,000 USD at just $40.55 USD per share.