- Billionaire Elon Musk has countersued Twitter ( NYSE: TWTR ) in their bitter dispute over whether he will be forced to consummate the $44B acquisition deal he made with the company.
- His counterclaims were filed under seal, meaning that they won't be made public - though some redacted information may be made available soon, under court rules.
- The countersuit came after a midday deadline for both sides to file evidence discovery requests, and Delaware Chancellor Kathaleen McCormick on Friday officially set a five-day trial beginning Oct. 17.
- Both sides had agreed in principle to the Oct. 17 start, but the arrival of the discovery deadline firmed the start.
- Twitter stock ( TWTR ) rose 1.8% Friday to $41.61, its highest point in more than two months, and up 28% from its depths from when Musk gave notice he intended to terminate the deal on July 8.
- Recent Twitter ( TWTR ) filings indicate that it's spent $33M on transaction expenses, and it's set a shareholder vote on the acquisition for Sept. 13 .
For further details see:
Musk countersues Twitter over $44B deal in a sealed filing