Elon Musk’s legal team subpoenas former Twitter CEO Jack Dorsey and former executives for additional evidence ahead of trial
Elon Musk’s legal team has submitted a subpoena for Twitter’s former CEO Jack Dorsey in an effort to unearth additional evidence ahead of the October 17th trial to force Musk to buy Twitter.
It is rumored that Jack Dorsey who stepped down as Twitter CEO in November of 2021, under suspicious circumstances where many believed the Twitter co-founder was being pushed out, may actually be communicating with Elon Musk via encrypted messaging. So, it isn’t clear what Dorsey may provide to the court, but there are billions at stake in the October 17th trial in the Delaware Court of Chancery. Musk believes that Twitter is not being truthful about the number of daily active users on Twitter and suspects that the company’s claim that fake accounts only comprise less than 5 percent of the user base is false.
Specifically, the subpoena is requesting the following documents from Jack Dorsey:
- Documents and Communications regarding the Merger and the transaction contemplated by the Merger, the Merger Agreement, any potential acquisition or transaction between Defendants and Twitter, Defendants’ potential or actual acquisition of shares of Twitter common stock, Defendants’ potential membership on the Twitter Board, and Documents and Communications otherwise regarding Twitter and any of Defendants.
- Documents and Communications reflecting, referring to, or relating to the impact or effect of false or spam accounts on Twitter’s business and operations.
- Documents and Communications reflecting, referring to, or relating to Twitter’s use of mDAU as a “Key Metric,” as noted in Twitter’s SEC filings, including Documents and Communications reflecting, referring to, or relating to the relationship between mDAU and Twitter’s present or future revenue or EBITDA.
- Documents and Communications reflecting, referring to, or relating to Twitter’s use of any other user metric other than mDAU, including but not limited to, daily active users, monthly active users, daily user engagement, monthly user engagement, or advertisement engagements.
- Documents and Communications describing any process or workflow, other than the mDAU Audit and the suspension workflow, that Twitter uses, has used, or has discussed or considered using to detect and label accounts as spam or false.
- Documents reflecting business plans or analyses for achieving mDAU targets.
- Documents and Communications relating to incorporating mDAU into executive or director compensation, including but not limited to any annual compensation targets, bonus pools, incentive plans, or performance-based restricted stock units.
In the lead up to the big trial on October 17th, Elon Musk’s legal team has gotten access to information from the Twitter’s former head of product Kayvon Beykpour and a separate subpoena of Bruce Falck in an apparent executive house cleaning by Twitter CEO Parag Agrawal. Perhaps Agrawal is getting rid of those responsible for the number of fake accounts on the social app, either way, it should be interesting to hear what they have to say or what insight they provide.