Musk and Twitter are set to go to Delaware Chancery Court in mid-October over the Tesla CEO’s attempt to get out of his $44 billion deal to buy the company.
Former Twitter CEO Jack Dorsey wanted Elon Musk on the board of the social media company, but felt the rest of its members were too"risk averse," a new court filing revealed on Thursday.
Dorsey told Musk his power was limited because"I only had one vote, and 3% of company, and no dual class shares." Musk and Twitter are set to go to Delaware Chancery Court in mid-October over the Tesla CEO's attempt to get out of his $44 billion deal to buy the company.played out in public, ex-Twitter CEO Jack Dorsey wanted Musk on the social media company's board. But he didn't see the other directors going along with him, a court filing Thursday revealed.
In a text message to Musk on March 26, Dorsey wrote,"the board is just super risk averse and saw adding you as more risk." A little over a week later, Musk did announce plans to join the board, before he changed course and offered to buy the company. Soon after agreeing to purchase Twitter for $44 billion, Musk again changed direction and tried to back out of the deal. Twitter is suing to try and force him to hold up his end of the agreement. The two sides are set to go to Delaware Chancery Court in mid-October.
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