Twitter questions banks over whether Musk tried to tank deal
The subpoenas are part of Twitter's lawsuit against Musk seeking to hold him to the deal at the $54.20 per share price he had agreed to. Twitter is currently trading at around $41.30. A five-day trial is scheduled to begin Oct. 17 in the Delaware Chancery Court.
Musk said on July 8 he was backing out of the deal because Twitter allegedly breached the agreement by withholding data about fake accounts on the platform. Twitter has said the fake accounts are a distraction from the only issue that matters, which is the terms of the agreement.
Brian Quinn, a professor at Boston College Law School, said Twitter seems to want to know if"Gracias had any role in getting financing done or if he was just supposed to slow things down." Investors were asked for communications about the Twitter deal with those close to Musk, such as Steve Jurvetson, a former Tesla board member and current director of SpaceX, the private rocket company founded and led by Musk."lol, lawyers w/ TWTR are sending subpoenas to friends in the ecosystem around @elonmusk," wrote Joe Lonsdale, a co-founder of Palantir Technologies Inc, on Twitter.
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