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Binance was called to the court due to Ilon’s refusal Mask to buy Twitter
Twitter called the Binance cryptocurrency exchange to the court due to the funding allocated to it for the absorption of social networks by Ilon Mask. This is reported by Bloomberg.
In May, the trading platform provided a businessman with $ 500 million for a transaction. According to court documents, Twitter lawyers want to know about investment conditions and the efforts of a billionaire for syndication of funds.
Mask’s potential lenders also received the agenda, including Factorial Funds, Benefit Street, Bandera Partners, Funders Fund Growth II Management, a number of investors from Silicone Valley, Credit Suisse, Morgan STANLYA, GOLDMAN SACHS, GOLDMAN SACHS, GOLDMAN SACHS, GOLDMAN SACHS, GOLDMAN SACHS & Co. Later, this number included Tesla, SpaceX and the founder of the Citadel hedge fund Ken Griffin.
Twitter requests information about private negotiations with a magician regarding the sale of the social network, as well as documentary certificates of the billionaire assumption about the underestimation of the number of real users of the UniCredit ordered platform.
The company’s requests are mentioned by Ilona Mask on May 15 and 17, in which, in particular, he claims that the share of bots on Twitter “may exceed 90% of daily active users”.
Skadden, Arps, Slate, Meagher requested additional information from lawyers & Flom and McDermott Will & Emery.
Chancellor Court of Delaware provided Twitter by a five -day trial in the case. It should begin on October 17.
Recall that in April 2022, Ilon Musk acquired 9.2% of Twitter shares, and later offered to buy a company at a price of $ 54.2 per share. The leadership of the social network agreed with the conditions.
The billionaire explained the initiative with the desire to create an “inclusive arena for freedom of speech”.
However, in May, Musk suspended the purchase process after messages about the overestimation of the indicators of the audience of the social network. After that, Twitter shareholders filed a lawsuit due to the “chaotic process” of the company’s absorption, accusing the head of Tesla of manipulating the market.
In July, Musk announced the termination of the agreement on the acquisition of the social network.
In the same month, Twitter filed a lawsuit against the head of Tesla due to his exit from the transaction. The platform intends to force the entrepreneur to fulfill obligations and complete the purchase.
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