Twitter seeking documents related to SEC investigation of Elon Musk

Twitter stated in a court docket submitting launched on Thursday that it is making an attempt to acquire paperwork from Elon Musk associated to a federal investigation into the Tesla CEO’s $44 billion bid for the corporate.

Attorneys representing Twitter stated the corporate first requested for the supplies associated to the investigation on July 22, and that Musk’s authorized workforce has didn’t comply, citing “investigative privilege,” based on the submitting.

“Elon Musk is presently underneath investigation by federal authorities for his conduct in reference to the acquisition of Twitter,” the attorneys wrote. “By way of counsel, he has exchanged substantive correspondence with these authorities regarding their investigations.”

Twitter’s attorneys stated the paperwork “bear upon key points on this litigation.”

Musk initially agreed to purchase Twitter in April, earlier than then making an attempt to drag out of the deal claiming that the corporate hadn’t been clear concerning the variety of bots and pretend accounts on the platform. Twitter sued Musk in July to try to drive him to shut the deal. The 2 sides have been scheduled to go to trial in Delaware Chancery Courtroom on Oct. 17, however final week Musk reversed course once more and stated he would buy Twitter on the agreed up on value of $54.20 a share.

A choose from the court docket dominated final Thursday that Musk has till Oct. 28 to shut the acquisition if he needs to keep away from a trial.

Within the meantime, Twitter continues to be pursuing info. The most recent submitting refers to a letter the Securities and Alternate Fee despatched to Musk in June. The SEC was in search of info associated to a tweet Musk posted in Could, indicating that the “deal can’t transfer ahead” till the corporate supplies him with extra details about spam and fraud accounts on the platform.

Twitter’s attorneys stated producing the paperwork would “create no actual burden, as a result of they’re a discrete set of simply identifiable supplies inside the information of the attorneys who wrote, reviewed, or acquired them.”

“This recreation of ‘conceal the ball’ should finish,” the attorneys wrote.

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