Lawyers Have Sent Subpoenas To Elon Musk's Banks To Find Out Whether He Wanted To Withdraw From The Purchase Early On

Abdul Ghani

The lawyers of the social network Twitter have sent subpoenas to banks, investors, and associates of Elon Musk in the past few days. The lawyers want to find out whether there were any signs that the billionaire wanted to withdraw from the purchase even before Musk announced that he did not want to take over Twitter.
Elon Musk, CEO of SpaceX and Tesla.Image by Daniel Oberhaus From Flickr

Such behavior would constitute a breach of the preliminary sale agreement between Musk and Twitter, the New York Times reports, citing people familiar with the matter. According to the preliminary agreement, Musk must make the "greatest possible, reasonable effort" to complete the purchase.

Twitter Musk denies these efforts in the lawsuit against the billionaire. Instead, Musk is said to have made early efforts to walk away from the deal and not take any risks.

Subpoenas to banks and friends

The subpoenas went, among other things, to various banks with which Musk is said to have worked - including Morgan Stanley, Barclays, and Bank of America. Among other things, Twitter wants to know what efforts Elon Musk has made with regard to the conclusion of loans.

For Twitter's lawsuit and a judgment that obliges Elon Musk to take over Twitter, the decisive factor is whether the banks themselves rejected possible loans or whether Musk pushed them to do so. The lawyers of the social network are now hoping for corresponding information.

In addition to banks and investors, Musk's longtime companions, with whom the billionaire is said to have spoken about the Twitter takeover, were also summoned. Neither the banks nor other people contacted have responded to the New York Times' inquiries.

Musk accuses Twitter of false information

Elon Musk originally wanted to buy Twitter for $44 billion. After concluding a pre-purchase agreement, Musk repeatedly argued that Twitter had given false information about the number of fake accounts. For this reason, Musk ultimately canceled the purchase. Twitter then sued him to enforce the takeover; Musk responded with a counterclaim.

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Member Of Freelancers Union (USA), Freelance Writer!, and Digital Creator. Ghani Mengal is an enthusiast Freelance blogger and digital marketer. His content has been published and featured on many popular blogs, websites, and publications. Including TeelFeed,, Data-Driven Investor, TextSniper, Scientific Publication The Predict, The Startup, The Ascent, Heart Affairs, Illumination, And The List goes on.


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