Twitter denies Musk’s countersuit claims with a number of snark – Thealike

Twitter has filed a legal response denying Elon Musk’s counterclaims in regards to the firm he’s supposed to amass — a deal he’s making an attempt 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 tale that is contradicted by the evidence and common sense.” Ouch!

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

“According to Musk, he — the billionaire founder of multiple companies, advised by Wall Street bankers and lawyers — was hoodwinked by Twitter into signing a $44 billion merger agreement. That story is as implausible and contrary to fact as 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 insufficient, and commercially irrelevant.”

Twitter filed a response to Mr. Musk’s counterclaims. His claims are factually inaccurate, legally inadequate, and commercially irrelevant. We sit up for the trial within the Delaware Court of Chancery. See the submitting right here:

— Bret Taylor (@btaylor) August 4, 2022

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

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

“…mDAU represents an opportunity to monetize those users, rather than a confirmation that each user has generated ad revenue on any given day,” Twitter defined.

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

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

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

“Musk invents representations Twitter never made and then tries to wield, selectively, the extensive confidential data Twitter provided him to conjure a breach of those purported representations, Twitter writes. “Yet Musk simultaneously and incoherently asserts that Twitter breached the merger agreement by stonewalling his information requests.”

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

After Twitter sued Musk final month, a Delaware choose positioned the trial to happen on October 17. Days after that, Musk countersued the social network and the paperwork of the case have been positioned below a seal. In response, Twitter subpoenaed Musk’s associates together with Peter Theil’s VC firm Founders Fund and investors Joe Lonsdale and David Sacks. In retaliation, the Tesla CEO’s attorneys 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. Today, Twitter is buying and selling at $41.77.

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