As we get closer to October, which happens to be the trial date set for the Twitter and Musk legal battle showdown, the matter keeps getting more interesting.
Now, we’ve got plenty of reports of how Elon Musk is doing everything possible to collect evidence that he feels could positively affect his case.
And the latest news is related to seeking documents from the company’s ex-CEO and co-founder Jack Dorsey.
The renowned entrepreneur and the world’s richest man is in the pursuit of a mega legal fight that could possibly force him to sign a $44 billion deal of Twitter’s acquisition that he’s no longer interested in.
Dorsey chose to leave the organization in the month of November of last year and then opted to leave the board around three months back. But now, he seems to be a pivotal player in the ongoing legal battle as he’s getting asked about documents as well as communications taking place on the current legal debate.
We’re getting all of this information thanks to a recent subpoena that was made public recently.
Dorsey currently stands as the CEO of Block Inc, and as of now, there is no news about him making any comments or responding to requests for comments on the matter.
Elon Musk was seen mentioning in July how he would like to terminate his contract for purchasing Twitter as the latter had violated their deal. And ever since that happen, a legal battle came into play with both sides sending lawsuits against one another.
The latest we know about the trial is how the date is set for October 17 and it’s going to be a five-day trial.
The subpoena obtained documents and insights on chats regarding Twitter’s mDAU. For those who might not be aware, well, this is another term given to a tool used to detect fake or spam accounts.
The world’s richest person accuses Twitter of defrauding him and disguising the truth behind all of the spam in the filings which the entrepreneur had utilized for estimating the value of the firm. But Twitter denies all of this, adding that the accusations are baseless.
The Telsa and SpaceX CEO had also wished for chats and documents related to the methods used to determine the different types of active members in the organization. This includes using mDAUs to outline the exact executive payments with yearly targets.
As of now, Twitter has reserved its comments on the matter and we feel they’ll only be speaking when the right time comes in October.
In case you’re wondering, Jack Dorsey provided support for the billionaire when he decided to make an acquisition deal to purchase Twitter. Both Musk and Dorsey felt that Twitter was in dire need of change, especially in terms of its algorithms being more transparent. This way, the app’s users would certainly be having greater control regarding the content they’re witnessing.
The former Twitter CEO also mentioned through his account on Twitter how he strongly felt that the company was taking a step back in terms of its advertising model. Musk agreed, adding how the firm needed to place heavy reliance on subscription fees and other services so effective money exchanges would take place among users.
The duo had their own series of private discussions in the month of March when Musk opted to become a part of the Twitter board. But he then took a sudden u-turn from the decision and went on with his offer to purchase the whole firm.
Today, the shares of the company are currently down by 2.5%, as was seen during the later hours of the tradeoff session.
H/T: Reuters
Read next: Twitter Is Testing A Tweet View Counter And Tags For Accounts Verified Via Phone Numbers
Now, we’ve got plenty of reports of how Elon Musk is doing everything possible to collect evidence that he feels could positively affect his case.
And the latest news is related to seeking documents from the company’s ex-CEO and co-founder Jack Dorsey.
The renowned entrepreneur and the world’s richest man is in the pursuit of a mega legal fight that could possibly force him to sign a $44 billion deal of Twitter’s acquisition that he’s no longer interested in.
Dorsey chose to leave the organization in the month of November of last year and then opted to leave the board around three months back. But now, he seems to be a pivotal player in the ongoing legal battle as he’s getting asked about documents as well as communications taking place on the current legal debate.
We’re getting all of this information thanks to a recent subpoena that was made public recently.
Dorsey currently stands as the CEO of Block Inc, and as of now, there is no news about him making any comments or responding to requests for comments on the matter.
Elon Musk was seen mentioning in July how he would like to terminate his contract for purchasing Twitter as the latter had violated their deal. And ever since that happen, a legal battle came into play with both sides sending lawsuits against one another.
The latest we know about the trial is how the date is set for October 17 and it’s going to be a five-day trial.
The subpoena obtained documents and insights on chats regarding Twitter’s mDAU. For those who might not be aware, well, this is another term given to a tool used to detect fake or spam accounts.
The world’s richest person accuses Twitter of defrauding him and disguising the truth behind all of the spam in the filings which the entrepreneur had utilized for estimating the value of the firm. But Twitter denies all of this, adding that the accusations are baseless.
The Telsa and SpaceX CEO had also wished for chats and documents related to the methods used to determine the different types of active members in the organization. This includes using mDAUs to outline the exact executive payments with yearly targets.
As of now, Twitter has reserved its comments on the matter and we feel they’ll only be speaking when the right time comes in October.
In case you’re wondering, Jack Dorsey provided support for the billionaire when he decided to make an acquisition deal to purchase Twitter. Both Musk and Dorsey felt that Twitter was in dire need of change, especially in terms of its algorithms being more transparent. This way, the app’s users would certainly be having greater control regarding the content they’re witnessing.
The former Twitter CEO also mentioned through his account on Twitter how he strongly felt that the company was taking a step back in terms of its advertising model. Musk agreed, adding how the firm needed to place heavy reliance on subscription fees and other services so effective money exchanges would take place among users.
The duo had their own series of private discussions in the month of March when Musk opted to become a part of the Twitter board. But he then took a sudden u-turn from the decision and went on with his offer to purchase the whole firm.
Today, the shares of the company are currently down by 2.5%, as was seen during the later hours of the tradeoff session.
H/T: Reuters
Read next: Twitter Is Testing A Tweet View Counter And Tags For Accounts Verified Via Phone Numbers
