Corporate Law

Twitter Ordered To Give Musk Former Executive’s Documents

According to the order from Chancellor Kathaleen McCormick of the Delaware Court of Chancery, the social media giant was ordered to collect, review, and produce documents from former General Manager of Consumer Product Kayvon Beykpour.

In April, Elon Musk made a deal to acquire Twitter for $44 billion, but later abandoned the deal over the number of fake accounts on the platform. 

“My offer was based on Twitter’s SEC filings being accurate,” Musk said. “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 complete 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 complaint 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.”

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