WILMINGTON, Delaware: Twitter is attempting to find evidence that Elon Musk tried to torpedo the financing of his US$44 billion takeover deal for the social media company while also looking into his motivation for backing out of the deal, legal experts said.
The subpoenas seek documents and communications concerning the deal, its financing, any information on"bot," or fake, Twitter accounts. They also seek information that the recipients may have about potential impact on the deal from changes in the stock price of electric car maker Tesla, of which Musk is chief executive.
"They suspect that behind the scenes he's been conspiring to blow the whole thing up," said Minor Myers, a professor at UConn School of Law. Musk cannot be ordered to close the deal if financing fails - provided he's not the cause of the failed funding, according to legal experts. Swan did not immediately respond to messages sent via LinkedIn and to Andreeesen Horowitz. Gracias did not respond to a request for comment sent to his Valor Equity Partners firm.
Source: News Formal (newsformal.com)
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