Current:Home > NewsSurpassing:As takeover battle heats up, Elon Musk subpoenas former Twitter CEO Jack Dorsey -Blueprint Money Mastery
Surpassing:As takeover battle heats up, Elon Musk subpoenas former Twitter CEO Jack Dorsey
Burley Garcia View
Date:2025-04-09 23:59:16
Elon Musk has subpoenaed his friend Jack Dorsey,Surpassing Twitter's former CEO, as part of his legal effort to abandon his bid to acquire the social media company.
Twitter is suing Musk in Delaware Chancery Court to make him follow through on an agreement to buy Twitter for $44 billion. Both parties have filed dozens of subpoena requests, asking banks, investment firms, executives and high-profile Silicon Valley figures for information and communications about the deal.
According to legal filings made public Monday, Musk's attorneys are seeking documents and communications from Dorsey regarding how Twitter detects, labels and counts fake accounts, and how it uses daily active users as a key metric in its financial disclosures.
Musk argues that Twitter wasn't forthcoming about the number of bots and spam among daily active users on its platform. He claims the social media company tried to "mislead investors" by providing false numbers in financial filings with the Securities and Exchange Commission.
Twitter says its SEC filings are accurate and Musk's team has "spent months trying to invent a spam disclosure problem," but found nothing. The company also claims Musk's efforts to finance the deal ran out of steam, which contradicts the legal arguments coming from the world's richest man.
Musk, CEO of Tesla and SpaceX, has been friends with Dorsey for years. Both are enamored with crypto currencies.
Dorsey, who stepped down as Twitter's CEO in November 2021, supported the buyout and Musk's move to take the company private.
He tweeted that he "Elon is the singular solution I trust" for Twitter.
Twitter's legal team has sought out information about Musk's communications with several Silicon Valley bold names, in an attempt to understand how his thinking about the deal changed.
Twitter is seeking documents and messages from entrepreneurs and venture capitalists Marc Andreessen, Joe Lonsdale, David Sacks, and Steve Jurvetson. Some of them have been involved in financing Musk's purchase.
Meanwhile, Musk's lawyers have filed dozens of subpoena requests asking for information about fake accounts on Twitter.
The judge granted Musk's requests to subpoena communications from Kayvon Beykpour, former head of consumer product, and Bruce Falck, former head of revenue product, who were both dismissed by CEO Parag Agrawal in May.
The case is scheduled for a 5-day trial on October 17.
veryGood! (2957)
Related
- Rolling Loud 2024: Lineup, how to stream the world's largest hip hop music festival
- These Are the Toughest Emissions to Cut, and a Big Chunk of the Climate Problem
- Intermittent fasting may be equally as effective for weight loss as counting calories
- A Warming Climate is Implicated in Australian Wildfires
- Are Instagram, Facebook and WhatsApp down? Meta says most issues resolved after outages
- Why do some people get rashes in space? There's a clue in astronaut blood
- American Climate Video: Giant Chunks of Ice Washed Across His Family’s Cattle Ranch
- What were the mysterious banging noises heard during the search for the missing Titanic sub?
- IRS recovers $4.7 billion in back taxes and braces for cuts with Trump and GOP in power
- Court: Federal Coal Lease Program Not Required to Redo Climate Impact Review
Ranking
- Off the Grid: Sally breaks down USA TODAY's daily crossword puzzle, Triathlon
- Lawyers fined for filing bogus case law created by ChatGPT
- Is gun violence an epidemic in the U.S.? Experts and history say it is
- In a Race Against Global Warming, Robins Are Migrating Earlier
- A White House order claims to end 'censorship.' What does that mean?
- What heat dome? They're still skiing in Colorado
- Court: Federal Coal Lease Program Not Required to Redo Climate Impact Review
- Consumer Group: Solar Contracts Force Customers to Sign Away Rights
Recommendation
DeepSeek: Did a little known Chinese startup cause a 'Sputnik moment' for AI?
Canada Sets Methane Reduction Targets for Oil and Gas, but Alberta Has Its Own Plans
Don’t Gut Coal Ash Rules, Communities Beg EPA at Hearing
Oil Pipelines or Climate Action? Trudeau Walks a Political Tightrope in Canada
A South Texas lawmaker’s 15
The Best Memorial Day Sales 2023: Sephora, Nordstrom Rack, Wayfair, Kate Spade, Coach, J.Crew, and More
Lewis Capaldi's Tourette's interrupted his performance. The crowd helped him finish
Overdose deaths involving street xylazine surged years earlier than reported