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Tesla CEO Elon Musk has subpoenaed his friend and former Twitter CEO Jack Dorsey to back out of his $44 billion deal to buy the company Dorsey helped create, court documents show.
Twitter and Musk will conduct a trial in Delaware on Oct. 17 to see if Twitter can force billionaires to complete acquisitions.
Twitter has subpoenaed a number of tech investors and entrepreneurs linked to Musk, including prominent venture capitalist Marc Andreessen and PayPal’s founding COO David Sacks.
Musk claimed that Twitter failed to provide enough information about the number of fake or “spam bot” Twitter accounts and that it violated its obligations under the deal by firing senior executives and laying off a large number of employees.
Musk’s team hopes to reveal more about the robot’s number during the trial court discovery process, where both parties must turn over evidence.
Twitter argued that Musk’s exit was just a cover for buyer’s remorse. The stock market tumbled shortly after Musk agreed to pay a 38% premium over Twitter’s share price, wiping more than $100 billion off the market value of Tesla, the electric car maker where most of Musk’s personal wealth resides.
The subpoena was served last week. It asked Dorsey to provide documents and communications related to the acquisition, as well as information on the impact of fake or spam accounts on Twitter’s business and its measurement of daily active users.
A lawyer representing Dorsey did not immediately return a message for comment on Monday.
Pfizer files for booster for latest variant
Pfizer Inc and BioNTech SE have asked the U.S. to authorize a new Covid booster tailored to the currently circulating Covid variant, as governments race to protect their populations from the ever-mutating virus. In a statement, the companies said they had “rapidly scaled up production of the new vaccine” and were able to ship doses of the new vaccine “immediately” after emergency authorization was granted.
Anthony Fauci steps down as chief medical adviser to President Joe Biden
Dr. Anthony Fauci, the nation’s top infectious disease expert who has become a household name and the subject of partisan attacks during the COVID-19 pandemic, announced Monday that after more than five years of service, Fauci will be leaving the federal government in December. Fauci served as chief medical adviser to President Joe Biden and was previously director of the National Institute of Allergy and Infectious Diseases and director of the NIAID Immunomodulation Laboratory.
UK economy shrinks by record 11% in 2020, worst in more than 300 years
Preliminary estimates from the Office for National Statistics (ONS) have already indicated that UK output in 2020 saw the sharpest fall in output since the “Great Frost” of 1709. But recently, the Office for National Statistics revised down the drop to 9.3 percent, the largest since the First World War.
China battles heatwaves, drought, bushfires
Army personnel and firefighters have been dispatched to fight bushfires in the southwestern Chinese city of Chongqing, as the city and several provinces continue to be scorched by a record heatwave that has dried up rivers, withered crops and knocked out power supplies. On Monday, forecasters issued a temperature “red alert” for the 11th day in a row and raised the national drought warning to “orange” — the second-highest level.
Imran Khan temporarily exempted from arrest in terror case until August 25: report
Former Pakistani Prime Minister Imran Khan was granted interim relief on Monday — in the form of transitional bail for three days — until August 25, hours after his team had moved the Islamabad High Court there to seek pre-arrest bail. . Media reports said. The country’s media regulator, the Electronic Media Regulatory Authority of Pakistan, also banned TV channels from broadcasting his live speech.
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