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Twitter Investor Sued Elon Musk for backing Off the Twitter Deal

Twitter Investor Sued Elon Musk for backing Off!

A twitter share investor named Luigi Crispo has sued Elon Musk for withdrawing from Twitter buyout for $44 billion. It looks like it will snowball into a big class action suit. It will join Twitter’s own effort to block Elon Musk from backing out of his pledge to the social media platform. The lawsuit is filed in Delaware Chancery court. It is the same court that is hearing Twitter’s suit against Elon Musk.

Investor Class Action Suit on Elon Musk

The investor presumably holds 5,500 shares of Twitter. The suit also has two more ‘corporate acquisition entities’ as co-defendants in the suit.

The suit was filed on July 29. The filing comes against the billionaire’s “lame rationales for reneging on his contract.” The suit allegedly accuses Elon Musk of fabricating reasons to excuse out the Twitter deal.

Details of Fresh Class Action Suit on Elon Musk by Investor

The suit wants the court to compel Musk to consummate the Twitter deal. Twitter had been claiming that Musk’s concerns about spam and bot accounts are false and without proof. At the same time Musk is accusing Twitter that it did not fully disclose that more than 5% of its daily users are spam bots.

The shareholder is represented by Prickett, Jones & Elliott PA and Scott&Scott Attorneys.

Meanwhile Twitter has sent out civil subpoenas to banks such as Morgan Stanley, co-investors and advisors of Musk to trace out Musk’s motivation behind backing out of the deal.

Elon Musk’s Counter Suit on Twitter

It is also reported that Elon Musk has filed a counter suit against Twitter for falsifying the information. Musk had also filed a request to change the date of hearing from October 10 as Twitter had requested to October 17. On these days Twitter would be conducting subpoena on Elon Musk to unearth any evidence that would put responsibility on Elon Musk for backing out of the deal.

Errol Musk Saying ‘He is not So Proud of Elon”

errol musk elon musk

Meanwhile, Elon Musk’s father, Errol Musk seemed to suggest that he is not so proud of Elon Musk, but about his other son Kimbal Musk. The father’s opinion came out during the ‘Kyle and Jackie O’s Show’ on KIIS FM. Errol Musk observed that Musk family has always been successful. He said, “…we are a family that have been doing a lot of things for a long time, it’s not as if we suddenly started doing something.”

Errol Musk is Proud of Kimbal Because of His Family!

He opined that Kimbal Musk is considered successful by him because his able to hold his family life together. Kimbal Musk is married to Christian Wyly since 2018. Kimbal Musk was married to Skin prior to that.

Elon Musk had number of relations such as Justine Musk, Talulah Riley, Grimes, Amber Heard and most recently with Shivon Zillis. At present, he is not committed to anybody. Errol feels that he should have a woman in his life who is ready to leave her job his sake and be committed to him.

Elon Musk Reply to Twitter will be Publicized on Aug. 5

On the request of Elon Musk’s attorney Edward Micheletti, Elon’s reply will be made public on August 5. The permission was given by the court on Wednesday, 3 August. Twitter attorney’s wanted more time to review the response before it goes public. They reasoned that the response had extensive internal Twitter information and data that was shared with Musk earlier.

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