company summonedTwitter‘ to court records from stock investors, including a unit of Brookfield Asset Management, which sought information regarding Mark Andreessen and a group of venture capital figures, regarding financing Elon Musk for the $44 billion takeover deal, for which he is sued.
Twitter-Elon Musk trial begins on October 17
Brookfield’s new venture capital arm committed $250 million to raise Musk’s $7.1 billion capital for the deal in May. Twitter’s lawyers want to know the terms of that investment and the billionaire’s efforts to raise the money, according to a court filing Tuesday in Delaware.
It is noteworthy that Twitter solicited information from more than a dozen companies besides Brookfield, such as DFJ Growth IV Partners, Valor Equity Partners, and Fidelity Management and Research and Andreessen’s AH Capital Management, according to the filings.
The social media company has also sought information from investor Key Wealth Advisors on Jason Calacanis, Steve Jurvetson, Joe Lonsdale, Shamath Palihpetia, Keith Rabois and David Sachs. The Washington Post also reported on Monday that subpoenas have been issued to obtain information on these investors, some of whom were not previously known to have participated in the deal.
It should be noted that Bloomberg LP, which owns Bloomberg News, has invested in Andreessen Horowitz.
Musk seeks to raise additional funds to avoid borrowing to buy Twitter
The pretrial information request seeks a wide range of communications and documents regarding Musk’s $54.20-a-share acquisition bid, which he seeks to retract over allegations that the company failed to provide him with information regarding spam and fake accounts. Twitter also sent subpoenas to a list of banks participating in the Musk financing package to inquire regarding their participation.
Some have decried these efforts as too broad, with Lonsdale calling it a “big excursion of harassment and trolling” and complaining of a notice “You are being requested by this Notice”.
Joe Lonsdale tweeted, “What a joke, Twitter lawyers are sending subpoenas to friends in the vicinity of Musk, Mark Andreessen, David Sachs et al., and it’s a major harassing and trolling trip. I have nothing to do with this except for a few scathing comments. , but I received a notice that said “You are required by this notice”.
