Musk-Twitter struggle ends in particular grasp to assessment paperwork (NYSE:TWTR)

Elon Musk obtained a setback in his push for extra data on metrics from Twitter (NYSE:TWTR), and the decide overseeing the authorized case over their $44B acquisition deal addressed some contentious fights over data by appointing a particular grasp for assessment.

Chancellor Kathaleen McCormick of Delaware’s Court docket of Chancery had held a prolonged listening to on Tuesday to deal with eight authorized factors of competition between Musk and Twitter only a few weeks earlier than a trial to resolve the destiny of the deal. Amongst these was a push from Musk’s aspect to get extra details about monetizable day by day customers ((mDAU)), consumer energetic minutes, and “stickiness,” all Twitter measures of consumer engagement.

Musk’s crew contended that whereas a couple of of the problems had develop into moot, it nonetheless needed to compel Twitter to supply paperwork that contained the search time period “mDAU” inside 10 phrases of the search time period “income.”

That was largely denied. McCormick directed Twitter to additional element its efforts to supply paperwork about mDAU, however Musk’s try and get extra details about UAM and stickiness are denied: “Plaintiff [Twitter] has performed sufficient.”

“Plaintiff by no means agreed and I by no means ordered Plaintiff to supply each single doc utilizing the time period mDAU,” McCormick dominated. “The statistics cited by Defendants regarding responsive paperwork don’t give rise to an inference of discovery misconduct.”

In the meantime, McCormick appointed a particular discovery grasp to deal with two motions that referred to as for a laborious personal assessment by the court docket. These concern competing challenges of every aspect’s assertion of privilege over discovery supplies. (Twitter asserted attorney-client privilege over some supplies, whereas Musk asserted work-product safety over his.)

Decide Christopher Sontchi will assessment a pattern of 200 paperwork from both sides to resolve the issues.

Twitter inventory (TWTR) is up 1.3% to $43.28 at noon Friday; that now represents a 20% low cost to Musk’s dedicated buyout value of $54.20 per share.

Earlier, paperwork from Tuesday’s listening to made public revealed a trove of Musk’s texts, detailing his choices round accepting (after which denying) a board seat, and launching his take-private provide.