Elon Musk is suing Jack Dorsey in the lawsuit on Twitter

Elon Musk called Twitter founder and former CEO Jack Dorsey in a lawsuit between the social media platform and billionaire Tesla, who once wanted to buy it.

A series of subpoenas from both sides routinely come to the Delaware Court of Chancellery after a judge, or clerk, as he is called in the country’s busiest commercial court, sets a trial date for October.

Twitter sued Musk last month after reneging on an agreement reached in late April to buy the company for $ 44 billion, or $ 54.20 per share, in cash. There was a $ 1 billion breakup fee, but Twitter says that’s only if one party gives up for a good reason. Their lawsuit alleged that the termination was due to buyer’s remorse, which does not apply. Musk accused Twitter of underestimating the number of fake or spam accounts on his site. Musk camp filed a lawsuit against Twitter.

Monday’s quote states that Dorsey, a friend and ally of Musk’s during the acquisition process, “is ordered to put aside any cause and excuse, respond in writing to this quote, and produce any books, documents or tangible items for the acquisition. inspection”. copy “. Items in your possession, custody or control” requested by the defendants, particularly anything related to the merger agreement and documents that “describe, relate to or relate to the impact or effect of the fake or spam accounts on activities and operations of Twitter “.

In a July 19 hearing, Chancery Court Judge Kathleen McCormick scheduled a five-day trial for October to hear the lawsuit. Twitter called for a four-day expedited trial in September, while Musk’s lawyers wanted an end-of-February date. The ruling favored Twitter, as the judge agreed with the company’s argument that the delay could do it irreparable harm.

Dorsey stepped down as Twitter CEO last fall and remained in office until May, when his term expired. He supported Musk’s proposal and his mockery of the board. Still in deal mode, Musk reached out to Dorsey and other Twitter shareholders, including Prince Alwaleed bin Talal, about common stock contributions to keep the invested capital after the merger and make the company private.

Twitter will hold a special shareholders’ meeting on September 13 to vote on the combination. This is the last procedural step needed to close the deal, as well as forcing Musk to pay. Musk recently sold Tesla shares worth $ 6.9 billion, admitting he may need cash. Twitter’s board, which approved the merger, is trying to get as many votes as possible upfront and to put pressure on shareholders once again today. The operation “requires the favorable vote of the majority of the shares in circulation, your vote is very important, regardless of the number of shares you own”.

“Please help Twitter avoid additional membership fees by voting today.” You can vote by phone, online, or by signing, reviewing and returning a delegate card or voting instruction form. If you have received this reminder email, you can also vote by simply clicking the “Vote Now” button in the attached email.

Shares of Twitter closed 2.2% lower at $ 43.01 in pre-market trading, but rose in after-hour trading.

He filed dozens of subpoenas in the lawsuit, including advisors from Musk, bankers and lenders Binance, Factorial Funds, Benefit Street, Bandera Partners, Founders Fund Growth II Management, Citadel CEO Ken Griffin, Oracle CEO, Larry Ellison, David Sachs. Steve Jurvetson, Marc Andreessen, former WWE CFO Christina Saleni, Ellison’s trustee Philip Simon, former Intel CEO Bob Swan, and Tesla board member Antonio Gracias.

Musk called Twitter advisors about the deal from Allen & Co., Goldman Sachs, and JPMorgan Chase, among others.