Twitter is leaving no stone unturned to push Elon Musk to go for Twitter acquisition. This time, however, Twitter has aimed at billionaire friends of Elon Musk; and that may prove to be the costliest mistake by the social media company amidst the ongoing legal battle with the world’s richest person Elon Musk.
According to the latest media report, Twitter has issued a series of subpoenas for Silicon Valley’s top names in its legal battle against Elon Musk.
While it doesn’t sound like a big deal at first, paying a little more attention to the target people’s list makes it clear that Twitter has picked up a fight it can’t afford to lose.
According to documents obtained by The Post, Twitter sent legal requests to billionaire investors Chamath Palihapitiya and Marc Andreessen, the two renowned billionaires and investors.
But the list of targeted people doesn’t end with the aforementioned names. Twitter also subpoenaed David Sacks – one of the entrepreneurs who helped Musk found PayPal, SpaceX – along with investors Joe Lonsdale, Keith Rabois and Jason Calacanis. Twitter is also going behind Stephen Jurvetson, one of the board members of Tesla Inc.
These legal requests could force the men to testify before the courtroom when the five-day trial begins in October.
None of the targeted billionaire friends of Elon Musk has given their reaction to the development yet.
However, Lonsdale, one of the subpoena recipients, turned to Twitter to express his pleasure against Twitter.
Lonsdale called the legal requests of social media company a “giant harassing fish expedition” on Twitter.
Lonsdale was not the only one who used Twitter’s platform to express his displeasure. David Sacks appeared to be quite angry as he replied to the subpoena via Twitter with an image showing a middle finger.
Twitter is requesting information from Musk’s circle regarding any communication that could have possibly taken place between him and his circle about bots or spam. The legal request includes information about Musk’s attendance at the All-In Summit in Mai — which he attended along with Palihapitiya and Sacks. It was the same event when Musk hinted about backing off the deal for the first time. The event took place weeks before Musk officially called off the $44 billion deal in July.
Notably, not all people who received legal requests from Twitter were openly involved in Musk’s pursuit to acquire Twitter. It was Calacanis and Andreessen who were known to be helping Elon in his effort to finance the deal.
The move by Twitter to target Musk’s billionaire circle came to light only after the social media company had sent subpoenas to several banks that were involved in financing the deal. Morgan Stanley, Citigroup, and Bank of America were the prime financial institutions that were working closely with Musk to evaluate the nettigritties involved and also to arrange finance.
Twitter will fight the legal battle with Elon Musk in the court of Delaware. Twitter crossed the first hurdle last month when Chancery Court judge Kathaleen J. McCormick ruled in favor of the social media company requesting an expedited trial. Musk opposed the trial, but his request was rejected.
Twitter is suing Elon Musk for backing off from the $44 billion Twitter acquisition deal at the last moment. The company’s objective behind the court battle appears to be to force Musk to acquire it.
Multiple experts believe it will be an uphill battle for Musk, considering the strict terms of the contract he signed earlier in the year. For Twitter, it will not be easy to deal with the aftereffects of the move either.
None of the bigwigs want to get involved in any legal fight, especially when he doesn’t have a direct link to that. However, by involving such resourceful people – with unlimited access to power, money and influence – against their will, Twitter has put itself in a tough spot and should be ready to face severe consequences irrespective of the outcome of the legal battle with Musk. If Musk alone wasn’t enough to make the Twitter management run pillar to post to win the battle, these billionaires wouldn’t hesitate to put their legal machinery in action on the behest of Musk.
Now that Twitter has already rolled the dice, it would be interesting to see how already agitated men respond to subpoenas and if there would be a reciprocal effect at a later stage. Whatever the case, one thing is clear – Twitter has rubbed the billionaires on the wrong side, and now the company can’t afford to lose the battle against Musk. Failing to do so, Twitter may finding itself in a soup and end up paying considerable price for issuing a series of subpoenas to high and might friends of Musk.