Comments
Elon Musk subpoenaed former Twitter CEO Jack Dorsey over the $44 billion Twitter case.
The legal request by Musk seeks any documents or communications Dorsey might have from January 1, 2019, related to the acquisition, “the impact or effect of false or spam accounts on Twitter’s business and operations” and any systems Twitter has used or discussed related to detecting and labeling spam accounts.
In July, the Delaware court turned down Musk’s plea for a February trial over the Twitter buyout and issued an order for an October trial. Jack Dorsey stepped down as the Chief Executive Officer (CEO) of Twitter for the second time last November and introduced Parag Agrawal in his place.
Twitter and Elon Musk have countersued each other over the billion dollar deal, where the former took actions against Musk’s plan to cut down on the acquisition plan.
Documents requested
Following Musk’s subpoena of Jack Dorsey, here is the information Twitter’s ex-CEO is being asked for:
- Documents and communications regarding the merger and the transaction contemplated by the merger, the merger agreement, any potential acquisition or transaction between defendants and Twitter, defendants’ potential or actual acquisition of shares of Twitter common stock, defendants’ potential membership on the Twitter Board, and documents and communications otherwise regarding Twitter and any of defendants.
- Documents and communications reflecting, referring to, or relating to the impact or effect of false or spam accounts on Twitter’s business and operations.
- Documents and communications reflecting, referring to, or relating to Twitter’s use of monetisable daily active users (mDAU) as a “Key Metric,” as noted in Twitter’s SEC filings, including documents and communications reflecting, referring to, or relating to the relationship between mDAU and Twitter’s present or future revenue or EBITDA.
- Documents and communications reflecting, referring to, or relating to Twitter’s use of any other user metric other than mDAU, including but not limited to, daily active users, monthly active users, daily user engagement, monthly user engagement, or advertisement engagements.
- Documents and communications describing any process or workflow, other than the mDAU audit and the suspension workflow, that Twitter uses, has used, or has discussed or considered using to detect and label accounts as spam or false.
- Documents reflecting business plans or analyses for achieving mDAU targets.
- Documents and communications relating to incorporating mDAU into executive or director compensation, including but not limited to any annual compensation targets, bonus pools, incentive plans, or performance-based restricted stock units.
Musk’s legal team claimed Twitter is operating a “scheme” to mislead investors and intentionally “miscounting” the number of spam accounts on the site. Twitter also reached out to Musk’s closest associates, David Sacks of PayPal and Larry Ellison.
Comments
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.