According to the order from Chancellor Kathaleen McCormick of the Delaware Court of Chancery, the social media big was ordered to gather, assessment, and produce paperwork from former General Manager of Consumer Product Kayvon Beykpour.
In April, Elon Musk made a deal to amass Twitter for $44 billion, however later deserted the deal over the variety of pretend accounts on the platform.
“My offer was based on Twitter’s SEC filings being accurate,” Musk mentioned. “Yesterday, Twitter’s CEO publicly refused to show proof of <5%. This deal cannot move forward until he does.”
Twitter is now suing Musk, pushing him to finish the takeover.
“In April 2022, Elon Musk entered into a binding merger agreement with Twitter, promising to use his best efforts to get the deal done,” the grievance alleged.
“Now, less than three months later, Musk refuses to honour his obligations to Twitter and its stockholders because the deal he signed no longer serves his personal interests.”