Twitter has sued a division of cryptocurrency exchange Binance over funds allocated to it by Elon Musk for the takeover of the social network. It is reported by Bloomberg.

In May, the trading platform provided the businessman with $500 million to complete the deal. According to court documents, Twitter’s lawyers want to know the terms of the investment and the billionaire’s efforts. syndication source of money.

In addition, potential creditors of Musk were subpoenaed, including Factorial Funds, Benefit Street, Bandera Partners, Founders Fund Growth II Management, a number of Silicon Valley investors, financial advisors from Credit Suisse, Morgan Stanley, Goldman Sachs, JPMorgan, and specialist investment. . bank Allen & Co. Later that number included Tesla, SpaceX, and Ken Griffin, founder of the Citadel hedge fund.

Twitter is asking them for information on private negotiations with Musk over the sale of the social network, and documentary evidence of the billionaire’s assumptions about underestimating the number of real users of the platform.

The company’s investigations cite Elon Musk’s tweets of May 15 and 17, and specifically claim that the proportion of bots on Twitter “could exceed 90% of daily active users.”

The social network has requested additional information from Musk’s attorneys from Skadden, Arps, Slate, Meagher & Flom, and McDermott Will & Emery.

The Delaware Court of Chancery gave Twitter a five-day probationary period in the case. It should start on October 17.

Recall that in April 2022, Elon Musk bought a 9.2% stake in Twitter and later offered to buy the company at a price of $54.2 per share. The administration of the social network agreed to the terms.

The billionaire described the initiative with his desire to create an “inclusive arena for free speech.”

However, in May, Musk suspended the acquisition after reports of inflated social media viewership numbers. Twitter shareholders subsequently filed a lawsuit over the “chaotic process” of the company’s takeover, accusing Tesla’s chairman of manipulating the market.

In July, Musk announced that the deal to buy the social network had been terminated.

That same month, Twitter sued Tesla’s president for leaving the deal. The platform aims to force the entrepreneur to fulfill his obligations and complete the purchase.

Read ForkLog bitcoin news in our Telegram – cryptocurrency news, courses and analysis.