Twitter denies Musk’s countersuit claims with lots of snark – TechCrunch

Twitter has filed a authorized response denying Elon Musk’s counterclaims in regards to the firm he’s supposed to accumulate — a deal he’s attempting to exit by claiming Twitter fraudulently misrepresented the variety of pretend accounts on the platform. The 127-page doc sees Twitter refuting Musk’s numerous claims, saying that they’re “a made-for-litigation story that’s contradicted by the proof and customary sense.” Ouch!

The social community famous within the submitting that these counterclaims “fail to justify Musk’s plan to dishonor the merger settlement,” and accused them of being an effort to flee the settlement due to the market downturn.

“In response to Musk, he — the billionaire founding father of a number of corporations, suggested by Wall Road bankers and legal professionals — was hoodwinked by Twitter into signing a $44 billion merger settlement. That story is as implausible and opposite to truth because it sounds,” snarked Twitter, within the submitting made public on Thursday.

Twitter’s chairman Brett Taylor additionally posted to the social community, criticizing Musk’s claims as being “factually inaccurate, legally inadequate, and commercially irrelevant.”

Musk’s legal professionals had filed 90 pages of counterclaims within the Delaware Courtroom of Chancery and Twitter’s response tackles them paragraph by paragraph.

The social community’s legal professionals identified that Musk has misunderstood many Twitter metrics, for starters. For instance, he confused monetizable each day customers with monetized each day customers. The previous is a metric that Twitter repeatedly makes use of to measure its development in its quarterly earnings report.

“…mDAU represents a possibility to monetize these customers, reasonably than a affirmation that every consumer has generated advert income on any given day,” Twitter defined.

The Twitter response is stuffed with arch authorized repartee, attempting to point out that Musk’s claims are ridiculous.

So anticipate sentences like: “To the extent Paragraph 7 incorporates allegations about Musk’s ‘thesis,’ Twitter lacks information or info enough to kind a perception as to the reality of the information alleged and denies them on that foundation.

This was mentioned in response to Musk’s accusation of spam accounts having an enormous impact on public discourse.

“Musk invents representations Twitter by no means made after which tries to wield, selectively, the in depth confidential knowledge Twitter offered him to conjure a breach of these purported representations, Twitter writes. “But Musk concurrently and incoherently asserts that Twitter breached the merger settlement by stonewalling his info requests.”

Twitter’s submitting comes amid a collection of authorized steps by each side like a sport of legislative tennis.

After Twitter sued Musk final month, a Delaware decide positioned the trial to happen on October 17. Days after that, Musk countersued the social community and the paperwork of the case have been positioned beneath a seal. In response, Twitter subpoenaed Musk’s associates together with Peter Theil’s VC agency Founders Fund and buyers Joe Lonsdale and David Sacks. In retaliation, the Tesla CEO’s legal professionals subpoenaed JPMorgan Chase and Goldman Sachs — corporations that suggested Twitter on the acquisition offers.

Musk had agreed to purchase Twitter for $54.20 per share in a $44 billion deal, however the inventory has dropped considerably for the reason that settlement was signed — dropping to $32.65 in July. At this time, Twitter is buying and selling at $41.77.

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