Twitter has known as out Binance and a dozen different corporations with over $44 billion. USD Musk deal

Bankers and advisors who backed Tesla (TSLA) CEO Elon Musk’s 44 billion USD offer on Twitter (TWTR) has received a flurry of new subpoenas from the social media site’s lawyers. Those lawyers want to know what happened in Musk’s private negotiations leading up to the now-disputed deal.

On Tuesday, Twitter filed more than a dozen subpoenas in its expedited lawsuit to force Musk to make the deal. The statements were directed at Musk’s advisers and prospective lenders, including Binance, Factor funds, Benefit StreetBandera Partners, Managing Founders Fund Growth II — add to several others released Monday to Musk’s bankers, investors and associates. Tesla (TSLA) and SpaceX similar claims have also been made.

Notably, the subpoenas require Musk’s advisers and supporters to provide documents and reports that support or refute Musk’s claim that Twitter has underreported the number of fake or spam accounts on the social media site.

Musk claims he’s backing out of the deal because Twitter won’t provide him with data on the number of fake accounts, known as bots, operating on its platform and in some cases spreading misinformation. According to Musk, Twitter’s public reporting of bots is misleading and overestimates estimates of less than 5% mDAU, or monetized daily active users.

Twitter, on the other hand, says it has long argued that its assessment may be wrong, and that Musk’s bot issue is an excuse to pull out of the deal. Twitter adds that Musk also deliberately tried to seal the deal with several disparaging tweets.

In this photo illustration, the Twitter profile of Tesla and SpaceX CEO Elon Musk is shown on a mobile phone screen in Ankara, Turkey in 2022. April 18 Twitter has announced that it has accepted Elon Musk’s $44 billion acquisition offer. (Photo by Celal Gunes/Anadolu Agency via Getty Images)

In separate subpoenas aimed at Binance and others, Twitter is asking the companies to hand over all documents and communications related to Musk’s May 15 announcement. With a tweet saying there is a “some chance” that the percentage of Twitter bots and/or fake or spam accounts “could exceed 90%”. daily active users’.

A tweet from @elonmusk and @BLKMDL3 in 2022.  May 15

A tweet from @elonmusk and @BLKMDL3 in 2022. May 15

The request goes on to request any documents related to another tweet from Musk on May 17, which read: “20% fake/spam accounts, 4x what Twitter claims, could be much more.”

A tweet from the @elonmusk account in 2022.  May 17

A tweet from the @elonmusk account in 2022. May 17

The subpoenas also ask the companies for “drafts or iterations of any plans” related to Twitter’s fake or spam accounts, as well as any media reports related to spam accounts and documents related to Twitter’s SEC disclosures about spam.

Although Twitter’s lawyers argue that the merger agreement did not require the company to hand over the bot data he requested, his lawyers on July 8 wrote in the letter to cancel the deal that Musk needed fake account information in order to finance it.

Musk’s lawyers wrote that the bot information is needed “to facilitate Musk’s financing and financial planning of the transaction and to participate in business transition planning…”.

In turn, Musk’s lawyers have also issued subpoenas seeking information related to the closing of the Twitter deal. His lawyers issued subpoenas to Goldman Sachs and JPMorgan, as well as boutique investment bank Allen & Co.

The Twitter subpoenas on Monday included documents and statements from Musk’s partners and investors, including Silicon Valley investors Chamath Palihapitiya, David Sacks, Joe Lonsdale, Steve Jurvetson, Marc Andreessen, Jason Calacanis, Keith Rabois; and from financial advisors Credit Suisse and Morgan Stanley.

A Delaware Chancery Court judge has set Twitter for a five-day trial, which will begin on October 17.

Alexis Keenan is a legal reporter for Yahoo Finance. Follow Alex on Twitter. @alexiskweed.

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