Elon Musk responds

Twitter's prospective owner has filed a countersuit against the business.

Elon Musk, the wealthy owner of Tesla and SpaceX, launched a countersuit against Twitter on Friday after initially intending to buy the social media platform then changing his mind.

In April, Musk announced his plan to purchase Twitter for about $44 billion at $54.20 per share. However, in early July, Musk announced that he was giving up on the acquisition, claiming that Twitter had violated their agreement by "resisting and thwarting" his request for information regarding the number of fictitious accounts on the platform.

Twitter, which at first opposed the purchase, sued Musk in return, claiming that his statements about his fictitious accounts were a diversion and that he should proceed with the agreement he had committed to.

Just hours before Musk filed his lawsuit, Chancellor Kathaleen McCormick, the Delaware judge who will be determining the issue, scheduled a five-day trial to start on October 17 to decide whether Musk can back out of the arrangement if the parties cannot settle then.

A redacted version of Musk's 164-page lawsuit, which could be released soon by court regulations, is not currently available to the public.

On September 13, Twitter will convene a shareholder meeting to vote on the acquisition.

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