Francis Pileggi Interviewed by Reuters on Twitter-Musk $44 Billion Legal Battle
Wilmington, Del. (July 15, 2022) - Wilmington Managing Partner Francis G.X. Pileggi recently participated in a video interview with Reuters, during which he discussed Twitter’s lawsuit against Elon Musk involving Mr. Musk’s attempt to terminate the $44 billion agreement for his purchase of the company based on his belief that Twitter misrepresented the number of “bots” on the social media platform.
In commenting on the respective parties’ positions, Mr. Pileggi told Reuters, “I don’t think either side has an edge at this point. Twitter’s strongest argument is that there is nothing that arose after the agreement was signed that would justify walking away from the deal.” In addition, Mr. Pileggi explained that discovery regarding the actual number of “bots” on Twitter will be key in this matter. He noted, “If discovery shows that the number or percentage of bots is a much higher number than 5%, that could have a substantial legal impact. And the irony is, of course, that as part of the lawsuit, I would expect that Twitter will need to disclose, if they haven’t already, much more detailed facts about what the actual percentage of bots and fake accounts, if you will, are. I think the case will turn on the exchange of documents and whether that will support a justification for walking away from the agreement.”
Mr. Pileggi, who previously spoke with the news media regarding the Twitter-Musk dispute, is a member of Lewis Brisbois’ Complex Business & Commercial Litigation Practice. He focuses primarily on high-stakes disputes of corporations, stockholders, members of boards of directors, members and managers of LLCs, and those with managerial or ownership interests in other forms of entities. In addition, since 2004, Mr. Pileggi has also maintained the Delaware Corporate & Commercial Litigation Blog, at www.delawarelitigation.com, in which he analyzes key corporate and commercial decisions from Delaware's Supreme Court and Court of Chancery.
You may access the full Reuters video interview here.
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Francis Pileggi
Managing Partner
Wilmington, DE
Philadelphia, PA
302.985.6002Attorney Bio
Francis.Pileggi@lewisbrisbois.com