DOVER, Del. (AP) – Elon Musk’s response to Twitter’s lawsuit over his attempt to back out of a $44 billion deal to buy the social media company will be made public by Friday evening at the latest, a court on Wednesday.
Musk’s lawyers wanted to file a public version of their answer and counterclaims in a Delaware court on Wednesday. But Twitter’s lawyers complained they needed more time to review and potentially redact Musk’s sealed filing, saying it refers “extensively” to internal Twitter information and data Musk was given.
Chancellor Kathaleen St. It may be filed earlier depending on when Twitter’s lawyers complete their review.
Twitter’s lawyers argued that court rules require five business days to pass before a public version of Musk’s filing is released.
“Few cases attract as much public interest as this one, and Twitter is mindful of this court’s commitment to ensuring maximum public access to its proceedings,” Twitter attorney Kevin Shannon wrote. “Twitter has no interest in proposing more redactions to defendants’ responsive pleadings than is necessary.”
Musk’s lawyer, Edward Micheletti, argued that Twitter’s lawyers were misinterpreting court rules. Musk’s lawyers also say there is no confidential information in Musk’s file that should be withheld from the public.
“Twitter should not be allowed to continue to bury the side of the story it does not want to be revealed publicly,” Micheletti wrote.
Musk, the world’s richest man, agreed in April to buy Twitter and take it private, offering $54.20 a share and pledging to loosen the company’s control over content and root out fake accounts.
Shares of Twitter closed Wednesday at $41, off a 52-week high of $69.81.
Musk indicated in July that he wanted out of the deal, prompting Twitter to file a lawsuit to keep him in the “seller-friendly” deal.
Musk says Twitter has failed to provide him with enough information about the number of fake accounts on its service. Twitter argues that Musk, CEO of electric car maker and solar energy company Tesla Inc., is deliberately trying to cancel the deal because market conditions have worsened and the acquisition no longer serves his interests.
Either Musk or Twitter will be entitled to a $1 billion breakup fee if the other party is found liable for the deal’s failure. Twitter wants more, however, and is seeking a court order for “specific performance” ordering Musk to follow through on the deal.
