Twitter responds to Musk's claims, calls them 'excuses' | World News

Twitter has filed a response to claims by billionaire Elon Musk that he has reputable causes for desirous to again out of his $44 billion deal to purchase the social media firm.

In an surprising twist, Twitter was capable of file its response to Musk earlier than Musk's personal counterclaims have been made public. A choose dominated on Wednesday that Musk's counterclaim can be made public by Friday.

In a reply filed Thursday in Delaware Chancery Courtroom, Twitter calls Musk’s reasoning “a narrative, imagined in an effort to flee a merger settlement that Musk now not discovered engaging as soon as the inventory market—and together with it, his large private wealth—declined in worth.”

Additionally learn: Is Elon Musk's father pleased with him? Errol offers an surprising reply

“The Counterclaims are a made-for-litigation story that's contradicted by the proof and customary sense,” Twitter's response says. “Musk invents representations Twitter by no means made after which tries to wield, selectively, the intensive confidential knowledge Twitter supplied him to conjure a breach of these purported representations.”

On the similar time, the response says, Musk additionally accused Twitter of breaching their settlement by “stonewalling” his data requests.

Representatives for Musk didn't instantly return a message for remark Thursday.

Attorneys for Musk had needed to file a public model of their reply and counterclaims in Delaware court docket Wednesday. However Twitter attorneys complained that they wanted extra time to overview and doubtlessly redact Musk’s sealed submitting, saying it refers “extensively” to inner Twitter data and knowledge given to Musk.

Musk, the world’s richest man, agreed in April to purchase Twitter and take it non-public, providing $54.20 a share and vowing to loosen the corporate’s policing of content material and to root out faux accounts.

However Musk stated in July that he needed to again out of the deal, prompting Twitter to file a lawsuit to carry him to the “seller-friendly” settlement.

Additionally learn: Elon Musk's Twitter countersuit due by Friday as acrimony grows

Musk says Twitter has failed to supply him sufficient details about the variety of faux accounts on its service. Twitter argues that Musk, CEO of electrical automotive maker and photo voltaic vitality firm Tesla Inc., is intentionally making an attempt to tank the deal as a result of market circumstances have deteriorated and the acquisition now not serves his pursuits.

Both Musk or Twitter can be entitled to a $1 billion breakup price if the opposite occasion is discovered answerable for the settlement failing. Twitter needs extra, nonetheless, and is in search of a court docket order of “particular efficiency” directing Musk to observe by way of with the deal.