Wilmington: Chancellor Kathaleen McCormick of Delaware’s Court of Chancery rejected Musk’ demands for Twitter Inc user details calling them “absurdly broad”. However, the billionaire will get some data as he pursues his bid to end his $44 billion acquisition of the company.
“My overall impression is that plaintiff has agreed to produce a tremendous amount of information to defendants, and that the information plaintiff has agreed to produce is sufficiently broad to satisfy most of plaintiff’s obligations,” wrote Chancellor Kathaleen McCormick of Delaware’s Court of Chancery.
With the above ordeal Twitter must turn over data from the 9,000 accounts sampled in the fourth quarter. “We look forward to reviewing the data Twitter has been hiding for many months,” said Musk’s attorney, Alex Spiro, in an emailed statement, for which the microblogging platform is given two weeks by the Chancellor.
Musk, the world’s richest person, has said he wants to test that audit’s accuracy because he believes the company fraudulently misrepresented that only 5% of its accounts were spam. Twitter wants McCormick to order Musk to close the deal at the agreed price of $54.20 per share. The shares briefly rose about 1% after the ruling and ended up 0.6% at $41.05.
A five-day trial that will consider Twitter’s lawsuit against Musk has been scheduled for October 17.