SlideShare uma empresa Scribd logo
1 de 4
Baixar para ler offline
COURT OF CHANCERY
OF THE
STATE OF DELAWARE
KATHALEEN ST. JUDE MCCORMICK
CHANCELLOR
LEONARD L. WILLIAMS JUSTICE CENTER
500 N. KING STREET, SUITE 11400
WILMINGTON, DELAWARE 19801-3734
August 25, 2022
Peter J. Walsh, Jr., Esquire
Kevin R. Shannon, Esquire
Christopher N. Kelly, Esquire
Mathew A. Golden, Esquire
Callan R. Jackson, Esquire
Potter Anderson & Corroon LLP
1313 N. Market Street
Hercules Plaza, 6th Floor
Wilmington, DE 19801
Brad D. Sorrels, Esquire
Wilson Sonsini Goodrich & Rosati, P.C.
222 Delaware Avenue, Suite 800
Wilmington, DE 19801
Edward B. Micheletti, Esquire
Lauren N. Rosenello, Esquire
Skadden, Arps, Slate, Meagher & Flom LLP
920 N. King Street, 7th Floor
P.O. Box 636
Wilmington, DE 19899-0636
Re: Twitter, Inc. v. Elon R. Musk et al.,
C.A. No. 2022-0613-KSJM
Dear Counsel:
This letter resolves issues raised in the August 15, 2022 letter from Defendants Elon
R. Musk, X Holdings I, Inc., and X Holdings II, Inc. (“Defendants”), which this decision
refers to as Defendants’ “Second Discovery Motion.” The motion seeks to compel Twitter,
Inc. (“Plaintiff”) to produce various documents, including information to verify Plaintiff’s
SEC disclosures regarding its estimates that less than 5% of mDAU are false or spam
accounts (the “5% Disclosure”).1
1
C.A. No. 2022-0613-KSJM, Docket (“Dkt.”) 163 (“Defs.’ Second Disc. Mot.”); see also
Dkt. 169 (“Pl.’s Response to Defs.’ Second Disc. Mot.”); Dkt. 201 (“Defs.’ Reply to Defs.’
Second Disc. Mot.”); Dkt. 231 (“Pl.’s Sur-Reply to Defs.’ Second Disc. Mot.”).
EFiled: Aug 25 2022 03:18PM EDT
Transaction ID 67974816
Case No. 2022-0613-KSJM
C.A. No. 2022-0613-KSJM
August 25, 2022
Page 2 of 4
To deliver a prompt ruling, I will forego recapping each of the arguments raised by
Defendants; I assume that readers of this letter are familiar with the parties’ dispute. My
overall impression is that Plaintiff has agreed to produce a tremendous amount of
information to Defendants, and that the information Plaintiff has agreed to produce is
sufficiently broad to satisfy most of Plaintiff’s obligations. This letter orders the
production of three additional categories of information.
First, as the primary target of their Second Discovery Motion, Defendants seek large
troves of Plaintiff’s data.2
In their Second Discovery Motion, Defendants argued that this
data was necessary to test the 5% Disclosure.3
In their reply in further support of their
Second Discovery Motion, Defendants argued that such documents were also relevant to
their counterclaim for fraud—i.e., the theory that Plaintiff misleadingly touted mDAU
without disclosing companion engagement data to present a complete picture.4
Defendants’ data requests are absurdly broad. Read literally, Defendants’
documents request would require Plaintiff to produce trillions upon trillions of data points
reflecting all of the data Twitter might possibly store for each of the approximately 200
million accounts included in its mDAU count every day for nearly three years.5
Plaintiff
has difficulty quantifying the burden of responding to that request because no one in their
2
See Defs.’ Second Disc. Mot. Ex. 6 (“RFPs”) 2, 3, 4, 18, 19.
3
Defs.’ Second Disc. Mot. at 19–21.
4
Defs.’ Reply to Defs.’ Second Disc. Mot. at 7–8.
5
See Pl.’s Response to Defs.’ Second Disc. Mot. Ex. 9 at 1–4; Defs.’ Second Disc. Mot.
Ex. 3 at 1–3.
C.A. No. 2022-0613-KSJM
August 25, 2022
Page 3 of 4
right mind has ever tried to undertake such an effort. It suffices to say, Plaintiff has
demonstrated that such a request is overly burdensome.6
That said, some additional data from Plaintiff seems warranted. Plaintiff is ordered
to produce a subset of what Defendants have requested: the 9,000 accounts reviewed in
connection with Plaintiff’s Q4 2021 audit, which the parties refer to as the “historical
snapshot.” I recognize that producing the historical snapshot is no small feat. Plaintiff
represented that, with considerable effort, these documents could be produced in under two
weeks, and Plaintiff shall strive to meet that timeline. In addition, Plaintiff must produce
documents sufficient to show how those 9,000 accounts were selected for review.
The historical-snapshot data that I have ordered produced is highly sensitive. To
their credit, Defendants have agreed to treat this data as highly confidential. The parties
should confer on a list of Defendants’ attorneys and data scientists who will be permitted
to access this data.
Second, as to Defendants’ mDAU fraud theory, Plaintiff has already agreed to
produce ten broad categories of documents addressing mDAU, including documents
reflecting Plaintiff’s reliance on mDAU relative to other metrics.7
Plaintiff is ordered
produce a small additional set of data from its review database—documents reflecting
discussion of any other key metric identified by Defendants, regardless of whether those
6
See Dkt. 169 (Edgett Aff.) ¶ 5 (averring that a less extensive collection effort would be
extraordinarily burdensome).
7
See Pl.’s Response to Defs.’ Second Disc. Mot. at 10; see generally id. Ex. 6.
C.A. No. 2022-0613-KSJM
August 25, 2022
Page 4 of 4
documents expressly address mDAU. Although Plaintiff may not withhold documents in
its existing review database concerning these other key metrics, Plaintiff need not engage
in further collection to satisfy this obligation.
Third and finally, Plaintiff is ordered to produce documents responsive to
Defendants’ RFP 49 at the board and management level from January 1, 2021 to the
present.
Defendants’ other requests in their Second Discovery Motion are denied.
IT IS SO ORDERED.
Sincerely,
/s/ Kathaleen St. Jude McCormick
Kathaleen St. Jude McCormick
Chancellor
cc: All counsel of record (by File & ServeXpress)

Mais conteúdo relacionado

Mais procurados

Special interogatories in California litigation
Special interogatories in California litigationSpecial interogatories in California litigation
Special interogatories in California litigationLegalDocsPro
 
Sample California motion for protective order regarding interrogatories
Sample California motion for protective order regarding interrogatories Sample California motion for protective order regarding interrogatories
Sample California motion for protective order regarding interrogatories LegalDocsPro
 
GUMRUKCU - Arrest Declaration (2).pdf
GUMRUKCU - Arrest Declaration (2).pdfGUMRUKCU - Arrest Declaration (2).pdf
GUMRUKCU - Arrest Declaration (2).pdfHindenburg Research
 
Complaint - Non-Compete Abuse, Defamation, Unpaid Wages
Complaint - Non-Compete Abuse, Defamation, Unpaid WagesComplaint - Non-Compete Abuse, Defamation, Unpaid Wages
Complaint - Non-Compete Abuse, Defamation, Unpaid WagesPollard PLLC
 
Answer, Counterclaims & Third Party Claims - Non-Compete & Tortious Interference
Answer, Counterclaims & Third Party Claims - Non-Compete & Tortious InterferenceAnswer, Counterclaims & Third Party Claims - Non-Compete & Tortious Interference
Answer, Counterclaims & Third Party Claims - Non-Compete & Tortious InterferencePollard PLLC
 
Serhat Gumrukcu 2017 Felony Case Complaint .pdf
Serhat Gumrukcu 2017 Felony Case Complaint .pdfSerhat Gumrukcu 2017 Felony Case Complaint .pdf
Serhat Gumrukcu 2017 Felony Case Complaint .pdfHindenburg Research
 
Serhat Gumrukcu - Beaver County Complaint 2016.PDF
Serhat Gumrukcu - Beaver County Complaint 2016.PDFSerhat Gumrukcu - Beaver County Complaint 2016.PDF
Serhat Gumrukcu - Beaver County Complaint 2016.PDFHindenburg Research
 
Mark Dybul Character Reference for Serhat Gumrukcu.pdf
Mark Dybul Character Reference for Serhat Gumrukcu.pdfMark Dybul Character Reference for Serhat Gumrukcu.pdf
Mark Dybul Character Reference for Serhat Gumrukcu.pdfHindenburg Research
 
Jardiance (Empagliflozin Tablets)
Jardiance (Empagliflozin Tablets)Jardiance (Empagliflozin Tablets)
Jardiance (Empagliflozin Tablets)Clearsky Pharmacy
 
Complaint - Bartender Non-Compete Case - Tampa Federal Court
Complaint - Bartender Non-Compete Case - Tampa Federal CourtComplaint - Bartender Non-Compete Case - Tampa Federal Court
Complaint - Bartender Non-Compete Case - Tampa Federal CourtPollard PLLC
 
Sample California meet and confer letter
Sample California meet and confer letter Sample California meet and confer letter
Sample California meet and confer letter LegalDocsPro
 
A clinical update_in_hypertension
A clinical update_in_hypertensionA clinical update_in_hypertension
A clinical update_in_hypertensionmuzibulchowdhury
 
Smiley Writing Sample Appeal Brief (2)
Smiley Writing Sample Appeal  Brief (2)Smiley Writing Sample Appeal  Brief (2)
Smiley Writing Sample Appeal Brief (2)Agenique Smiley, Esq.
 
Sample demand for physical examination in california
Sample demand for physical examination in californiaSample demand for physical examination in california
Sample demand for physical examination in californiaLegalDocsPro
 
Webinar: Wearables - Apresentando um diagrama de blocos e componentes chaves
Webinar: Wearables - Apresentando um diagrama de blocos e componentes chavesWebinar: Wearables - Apresentando um diagrama de blocos e componentes chaves
Webinar: Wearables - Apresentando um diagrama de blocos e componentes chavesEmbarcados
 
Sample demand for bill of particulars for California
Sample demand for bill of particulars for CaliforniaSample demand for bill of particulars for California
Sample demand for bill of particulars for CaliforniaLegalDocsPro
 
Traci Davis Lawsuit Against Washoe County School District Filed in District C...
Traci Davis Lawsuit Against Washoe County School District Filed in District C...Traci Davis Lawsuit Against Washoe County School District Filed in District C...
Traci Davis Lawsuit Against Washoe County School District Filed in District C...This Is Reno
 

Mais procurados (20)

Special interogatories in California litigation
Special interogatories in California litigationSpecial interogatories in California litigation
Special interogatories in California litigation
 
Tom hanks complaint
Tom hanks complaintTom hanks complaint
Tom hanks complaint
 
Sample California motion for protective order regarding interrogatories
Sample California motion for protective order regarding interrogatories Sample California motion for protective order regarding interrogatories
Sample California motion for protective order regarding interrogatories
 
GUMRUKCU - Arrest Declaration (2).pdf
GUMRUKCU - Arrest Declaration (2).pdfGUMRUKCU - Arrest Declaration (2).pdf
GUMRUKCU - Arrest Declaration (2).pdf
 
Complaint - Non-Compete Abuse, Defamation, Unpaid Wages
Complaint - Non-Compete Abuse, Defamation, Unpaid WagesComplaint - Non-Compete Abuse, Defamation, Unpaid Wages
Complaint - Non-Compete Abuse, Defamation, Unpaid Wages
 
Answer, Counterclaims & Third Party Claims - Non-Compete & Tortious Interference
Answer, Counterclaims & Third Party Claims - Non-Compete & Tortious InterferenceAnswer, Counterclaims & Third Party Claims - Non-Compete & Tortious Interference
Answer, Counterclaims & Third Party Claims - Non-Compete & Tortious Interference
 
Serhat Gumrukcu 2017 Felony Case Complaint .pdf
Serhat Gumrukcu 2017 Felony Case Complaint .pdfSerhat Gumrukcu 2017 Felony Case Complaint .pdf
Serhat Gumrukcu 2017 Felony Case Complaint .pdf
 
Serhat Gumrukcu - Beaver County Complaint 2016.PDF
Serhat Gumrukcu - Beaver County Complaint 2016.PDFSerhat Gumrukcu - Beaver County Complaint 2016.PDF
Serhat Gumrukcu - Beaver County Complaint 2016.PDF
 
Mark Dybul Character Reference for Serhat Gumrukcu.pdf
Mark Dybul Character Reference for Serhat Gumrukcu.pdfMark Dybul Character Reference for Serhat Gumrukcu.pdf
Mark Dybul Character Reference for Serhat Gumrukcu.pdf
 
Motion To Compel
Motion To CompelMotion To Compel
Motion To Compel
 
Jardiance (Empagliflozin Tablets)
Jardiance (Empagliflozin Tablets)Jardiance (Empagliflozin Tablets)
Jardiance (Empagliflozin Tablets)
 
Complaint - Bartender Non-Compete Case - Tampa Federal Court
Complaint - Bartender Non-Compete Case - Tampa Federal CourtComplaint - Bartender Non-Compete Case - Tampa Federal Court
Complaint - Bartender Non-Compete Case - Tampa Federal Court
 
Sample California meet and confer letter
Sample California meet and confer letter Sample California meet and confer letter
Sample California meet and confer letter
 
BILL OF PARTICULARS
BILL OF PARTICULARSBILL OF PARTICULARS
BILL OF PARTICULARS
 
A clinical update_in_hypertension
A clinical update_in_hypertensionA clinical update_in_hypertension
A clinical update_in_hypertension
 
Smiley Writing Sample Appeal Brief (2)
Smiley Writing Sample Appeal  Brief (2)Smiley Writing Sample Appeal  Brief (2)
Smiley Writing Sample Appeal Brief (2)
 
Sample demand for physical examination in california
Sample demand for physical examination in californiaSample demand for physical examination in california
Sample demand for physical examination in california
 
Webinar: Wearables - Apresentando um diagrama de blocos e componentes chaves
Webinar: Wearables - Apresentando um diagrama de blocos e componentes chavesWebinar: Wearables - Apresentando um diagrama de blocos e componentes chaves
Webinar: Wearables - Apresentando um diagrama de blocos e componentes chaves
 
Sample demand for bill of particulars for California
Sample demand for bill of particulars for CaliforniaSample demand for bill of particulars for California
Sample demand for bill of particulars for California
 
Traci Davis Lawsuit Against Washoe County School District Filed in District C...
Traci Davis Lawsuit Against Washoe County School District Filed in District C...Traci Davis Lawsuit Against Washoe County School District Filed in District C...
Traci Davis Lawsuit Against Washoe County School District Filed in District C...
 

Semelhante a Letter Decision Resolving Defendants' Second Discovery Motion.pdf

Letter Resolving Defendants' Third Discovery Motion.pdf
Letter Resolving Defendants' Third Discovery Motion.pdfLetter Resolving Defendants' Third Discovery Motion.pdf
Letter Resolving Defendants' Third Discovery Motion.pdfHindenburg Research
 
Letter Decision Denying Defendants' Motion For Reargument.pdf
Letter Decision Denying Defendants' Motion For Reargument.pdfLetter Decision Denying Defendants' Motion For Reargument.pdf
Letter Decision Denying Defendants' Motion For Reargument.pdfHindenburg Research
 
Letter Decision Resolving Defendants' Motion For Leave To Amend .pdf
Letter Decision Resolving Defendants' Motion For Leave To Amend .pdfLetter Decision Resolving Defendants' Motion For Leave To Amend .pdf
Letter Decision Resolving Defendants' Motion For Leave To Amend .pdfHindenburg Research
 
Good legal verbiage defendants objection on the grounds of relevancy-california
Good legal verbiage defendants objection on the grounds of relevancy-californiaGood legal verbiage defendants objection on the grounds of relevancy-california
Good legal verbiage defendants objection on the grounds of relevancy-californiascreaminc
 
Trial Order Ash Grove v. Travelers et al
Trial Order Ash Grove v. Travelers et alTrial Order Ash Grove v. Travelers et al
Trial Order Ash Grove v. Travelers et alSeth Row
 
Dickson_Davis_Deborah_Sample_Writing_Order_060716
Dickson_Davis_Deborah_Sample_Writing_Order_060716Dickson_Davis_Deborah_Sample_Writing_Order_060716
Dickson_Davis_Deborah_Sample_Writing_Order_060716Deborah Dickson
 
Document 112 (Main)
Document 112 (Main)Document 112 (Main)
Document 112 (Main)Byliner1
 
Sample motion for judgment on the pleadings under Rule 12(c) of the Federal R...
Sample motion for judgment on the pleadings under Rule 12(c) of the Federal R...Sample motion for judgment on the pleadings under Rule 12(c) of the Federal R...
Sample motion for judgment on the pleadings under Rule 12(c) of the Federal R...LegalDocsPro
 
Sample motion for protective order for deposition in California
Sample motion for protective order for deposition in CaliforniaSample motion for protective order for deposition in California
Sample motion for protective order for deposition in CaliforniaLegalDocsPro
 
Jaburg & Wilk and Darren Meade
Jaburg & Wilk and Darren MeadeJaburg & Wilk and Darren Meade
Jaburg & Wilk and Darren Meadepaladinpi
 
Blockchain Terminal summons and complaint
Blockchain Terminal summons and complaintBlockchain Terminal summons and complaint
Blockchain Terminal summons and complaintMike Dudas
 
Vargas v. Ford - denying appeal bond to Public Citizen
Vargas v. Ford - denying appeal bond to Public CitizenVargas v. Ford - denying appeal bond to Public Citizen
Vargas v. Ford - denying appeal bond to Public CitizenM. Frank Bednarz
 
Sample motion to vacate judgment under rule 60(b)(2) in United States Distric...
Sample motion to vacate judgment under rule 60(b)(2) in United States Distric...Sample motion to vacate judgment under rule 60(b)(2) in United States Distric...
Sample motion to vacate judgment under rule 60(b)(2) in United States Distric...LegalDocsPro
 
Sample California motion for summary judgment in unlawful detainer (eviction)
Sample California motion for summary judgment in unlawful detainer (eviction)Sample California motion for summary judgment in unlawful detainer (eviction)
Sample California motion for summary judgment in unlawful detainer (eviction)LegalDocsPro
 
Horsehead Defendants Reply Brief
Horsehead Defendants Reply BriefHorsehead Defendants Reply Brief
Horsehead Defendants Reply BriefGuy Spier
 
Dovenberg v. Carter Order
Dovenberg v. Carter OrderDovenberg v. Carter Order
Dovenberg v. Carter OrderSeth Row
 

Semelhante a Letter Decision Resolving Defendants' Second Discovery Motion.pdf (20)

Letter Resolving Defendants' Third Discovery Motion.pdf
Letter Resolving Defendants' Third Discovery Motion.pdfLetter Resolving Defendants' Third Discovery Motion.pdf
Letter Resolving Defendants' Third Discovery Motion.pdf
 
Letter Decision Denying Defendants' Motion For Reargument.pdf
Letter Decision Denying Defendants' Motion For Reargument.pdfLetter Decision Denying Defendants' Motion For Reargument.pdf
Letter Decision Denying Defendants' Motion For Reargument.pdf
 
Letter Decision Resolving Defendants' Motion For Leave To Amend .pdf
Letter Decision Resolving Defendants' Motion For Leave To Amend .pdfLetter Decision Resolving Defendants' Motion For Leave To Amend .pdf
Letter Decision Resolving Defendants' Motion For Leave To Amend .pdf
 
Ca2 db241675 01
Ca2 db241675 01Ca2 db241675 01
Ca2 db241675 01
 
Letter Decision Granting Stay
Letter Decision Granting StayLetter Decision Granting Stay
Letter Decision Granting Stay
 
Good legal verbiage defendants objection on the grounds of relevancy-california
Good legal verbiage defendants objection on the grounds of relevancy-californiaGood legal verbiage defendants objection on the grounds of relevancy-california
Good legal verbiage defendants objection on the grounds of relevancy-california
 
Trial Order Ash Grove v. Travelers et al
Trial Order Ash Grove v. Travelers et alTrial Order Ash Grove v. Travelers et al
Trial Order Ash Grove v. Travelers et al
 
Dickson_Davis_Deborah_Sample_Writing_Order_060716
Dickson_Davis_Deborah_Sample_Writing_Order_060716Dickson_Davis_Deborah_Sample_Writing_Order_060716
Dickson_Davis_Deborah_Sample_Writing_Order_060716
 
Document 112 (Main)
Document 112 (Main)Document 112 (Main)
Document 112 (Main)
 
QDC03-148
QDC03-148QDC03-148
QDC03-148
 
Sample motion for judgment on the pleadings under Rule 12(c) of the Federal R...
Sample motion for judgment on the pleadings under Rule 12(c) of the Federal R...Sample motion for judgment on the pleadings under Rule 12(c) of the Federal R...
Sample motion for judgment on the pleadings under Rule 12(c) of the Federal R...
 
Sample motion for protective order for deposition in California
Sample motion for protective order for deposition in CaliforniaSample motion for protective order for deposition in California
Sample motion for protective order for deposition in California
 
Jaburg & Wilk and Darren Meade
Jaburg & Wilk and Darren MeadeJaburg & Wilk and Darren Meade
Jaburg & Wilk and Darren Meade
 
Blockchain Terminal summons and complaint
Blockchain Terminal summons and complaintBlockchain Terminal summons and complaint
Blockchain Terminal summons and complaint
 
Order Dismissing RICO Darren Chaker
Order Dismissing RICO Darren ChakerOrder Dismissing RICO Darren Chaker
Order Dismissing RICO Darren Chaker
 
Vargas v. Ford - denying appeal bond to Public Citizen
Vargas v. Ford - denying appeal bond to Public CitizenVargas v. Ford - denying appeal bond to Public Citizen
Vargas v. Ford - denying appeal bond to Public Citizen
 
Sample motion to vacate judgment under rule 60(b)(2) in United States Distric...
Sample motion to vacate judgment under rule 60(b)(2) in United States Distric...Sample motion to vacate judgment under rule 60(b)(2) in United States Distric...
Sample motion to vacate judgment under rule 60(b)(2) in United States Distric...
 
Sample California motion for summary judgment in unlawful detainer (eviction)
Sample California motion for summary judgment in unlawful detainer (eviction)Sample California motion for summary judgment in unlawful detainer (eviction)
Sample California motion for summary judgment in unlawful detainer (eviction)
 
Horsehead Defendants Reply Brief
Horsehead Defendants Reply BriefHorsehead Defendants Reply Brief
Horsehead Defendants Reply Brief
 
Dovenberg v. Carter Order
Dovenberg v. Carter OrderDovenberg v. Carter Order
Dovenberg v. Carter Order
 

Mais de Hindenburg Research

Osirius Group LLC vs. Ideanomics
Osirius Group LLC vs. IdeanomicsOsirius Group LLC vs. Ideanomics
Osirius Group LLC vs. IdeanomicsHindenburg Research
 
Criminal Indictment Matt Beasley.pdf
Criminal Indictment Matt Beasley.pdfCriminal Indictment Matt Beasley.pdf
Criminal Indictment Matt Beasley.pdfHindenburg Research
 
Adani Green Energy Limited Offering Circular.pdf
Adani Green Energy Limited Offering Circular.pdfAdani Green Energy Limited Offering Circular.pdf
Adani Green Energy Limited Offering Circular.pdfHindenburg Research
 
Milestone Tradelinks Phone Number (Pg.1)
Milestone Tradelinks Phone Number (Pg.1)Milestone Tradelinks Phone Number (Pg.1)
Milestone Tradelinks Phone Number (Pg.1)Hindenburg Research
 
PMC Projects 2014 Annual Report.pdf
PMC Projects 2014 Annual Report.pdfPMC Projects 2014 Annual Report.pdf
PMC Projects 2014 Annual Report.pdfHindenburg Research
 
PMC Projects Beneficial Ownership Document.pdf
PMC Projects Beneficial Ownership Document.pdfPMC Projects Beneficial Ownership Document.pdf
PMC Projects Beneficial Ownership Document.pdfHindenburg Research
 
Adani Developers (later renamed Sunbourne) 2013 Annual Report.pdf
Adani Developers (later renamed Sunbourne) 2013 Annual Report.pdfAdani Developers (later renamed Sunbourne) 2013 Annual Report.pdf
Adani Developers (later renamed Sunbourne) 2013 Annual Report.pdfHindenburg Research
 
Vinod Adani - The Man Behind The Adani Group’s Offshore Deals (Morning Contex...
Vinod Adani - The Man Behind The Adani Group’s Offshore Deals (Morning Contex...Vinod Adani - The Man Behind The Adani Group’s Offshore Deals (Morning Contex...
Vinod Adani - The Man Behind The Adani Group’s Offshore Deals (Morning Contex...Hindenburg Research
 
Krunal Trade & Investment Pvt Ltd.pdf
Krunal Trade & Investment Pvt Ltd.pdfKrunal Trade & Investment Pvt Ltd.pdf
Krunal Trade & Investment Pvt Ltd.pdfHindenburg Research
 
Gardenia Trade and Investment.pdf
Gardenia Trade and Investment.pdfGardenia Trade and Investment.pdf
Gardenia Trade and Investment.pdfHindenburg Research
 
Birch Trade and Investment Ltd.pdf
Birch Trade and Investment Ltd.pdfBirch Trade and Investment Ltd.pdf
Birch Trade and Investment Ltd.pdfHindenburg Research
 
Athena Trade and Investments Pvt Ltd.pdf
Athena Trade and Investments Pvt Ltd.pdfAthena Trade and Investments Pvt Ltd.pdf
Athena Trade and Investments Pvt Ltd.pdfHindenburg Research
 
Flourishing Trade and Investment Ltd.pdf
Flourishing Trade and Investment Ltd.pdfFlourishing Trade and Investment Ltd.pdf
Flourishing Trade and Investment Ltd.pdfHindenburg Research
 
Delphinium Trade and Investment Ltd.pdf
Delphinium Trade and Investment Ltd.pdfDelphinium Trade and Investment Ltd.pdf
Delphinium Trade and Investment Ltd.pdfHindenburg Research
 
Dome Trade and Investment Ltd.pdf
Dome Trade and Investment Ltd.pdfDome Trade and Investment Ltd.pdf
Dome Trade and Investment Ltd.pdfHindenburg Research
 
Endeavour Trade and Investment Ltd.pdf
Endeavour Trade and Investment Ltd.pdfEndeavour Trade and Investment Ltd.pdf
Endeavour Trade and Investment Ltd.pdfHindenburg Research
 

Mais de Hindenburg Research (20)

SEC v Burns .
SEC v Burns                                            .SEC v Burns                                            .
SEC v Burns .
 
Questions For Tingo
Questions For TingoQuestions For Tingo
Questions For Tingo
 
Osirius Group LLC vs. Ideanomics
Osirius Group LLC vs. IdeanomicsOsirius Group LLC vs. Ideanomics
Osirius Group LLC vs. Ideanomics
 
Criminal Indictment Matt Beasley.pdf
Criminal Indictment Matt Beasley.pdfCriminal Indictment Matt Beasley.pdf
Criminal Indictment Matt Beasley.pdf
 
Acuitas Capital vs. Ideanomics
Acuitas Capital vs. IdeanomicsAcuitas Capital vs. Ideanomics
Acuitas Capital vs. Ideanomics
 
Adani Green Energy Limited Offering Circular.pdf
Adani Green Energy Limited Offering Circular.pdfAdani Green Energy Limited Offering Circular.pdf
Adani Green Energy Limited Offering Circular.pdf
 
Milestone Tradelinks Phone Number (Pg.1)
Milestone Tradelinks Phone Number (Pg.1)Milestone Tradelinks Phone Number (Pg.1)
Milestone Tradelinks Phone Number (Pg.1)
 
PMC Projects 2014 Annual Report.pdf
PMC Projects 2014 Annual Report.pdfPMC Projects 2014 Annual Report.pdf
PMC Projects 2014 Annual Report.pdf
 
PMC Projects Beneficial Ownership Document.pdf
PMC Projects Beneficial Ownership Document.pdfPMC Projects Beneficial Ownership Document.pdf
PMC Projects Beneficial Ownership Document.pdf
 
Adani Developers (later renamed Sunbourne) 2013 Annual Report.pdf
Adani Developers (later renamed Sunbourne) 2013 Annual Report.pdfAdani Developers (later renamed Sunbourne) 2013 Annual Report.pdf
Adani Developers (later renamed Sunbourne) 2013 Annual Report.pdf
 
SEBI Orders (Links).docx
SEBI Orders (Links).docxSEBI Orders (Links).docx
SEBI Orders (Links).docx
 
Vinod Adani - The Man Behind The Adani Group’s Offshore Deals (Morning Contex...
Vinod Adani - The Man Behind The Adani Group’s Offshore Deals (Morning Contex...Vinod Adani - The Man Behind The Adani Group’s Offshore Deals (Morning Contex...
Vinod Adani - The Man Behind The Adani Group’s Offshore Deals (Morning Contex...
 
Krunal Trade & Investment Pvt Ltd.pdf
Krunal Trade & Investment Pvt Ltd.pdfKrunal Trade & Investment Pvt Ltd.pdf
Krunal Trade & Investment Pvt Ltd.pdf
 
Gardenia Trade and Investment.pdf
Gardenia Trade and Investment.pdfGardenia Trade and Investment.pdf
Gardenia Trade and Investment.pdf
 
Birch Trade and Investment Ltd.pdf
Birch Trade and Investment Ltd.pdfBirch Trade and Investment Ltd.pdf
Birch Trade and Investment Ltd.pdf
 
Athena Trade and Investments Pvt Ltd.pdf
Athena Trade and Investments Pvt Ltd.pdfAthena Trade and Investments Pvt Ltd.pdf
Athena Trade and Investments Pvt Ltd.pdf
 
Flourishing Trade and Investment Ltd.pdf
Flourishing Trade and Investment Ltd.pdfFlourishing Trade and Investment Ltd.pdf
Flourishing Trade and Investment Ltd.pdf
 
Delphinium Trade and Investment Ltd.pdf
Delphinium Trade and Investment Ltd.pdfDelphinium Trade and Investment Ltd.pdf
Delphinium Trade and Investment Ltd.pdf
 
Dome Trade and Investment Ltd.pdf
Dome Trade and Investment Ltd.pdfDome Trade and Investment Ltd.pdf
Dome Trade and Investment Ltd.pdf
 
Endeavour Trade and Investment Ltd.pdf
Endeavour Trade and Investment Ltd.pdfEndeavour Trade and Investment Ltd.pdf
Endeavour Trade and Investment Ltd.pdf
 

Último

Eluru Call Girls Service ☎ ️93326-06886 ❤️‍🔥 Enjoy 24/7 Escort Service
Eluru Call Girls Service ☎ ️93326-06886 ❤️‍🔥 Enjoy 24/7 Escort ServiceEluru Call Girls Service ☎ ️93326-06886 ❤️‍🔥 Enjoy 24/7 Escort Service
Eluru Call Girls Service ☎ ️93326-06886 ❤️‍🔥 Enjoy 24/7 Escort ServiceDamini Dixit
 
Falcon Invoice Discounting: Unlock Your Business Potential
Falcon Invoice Discounting: Unlock Your Business PotentialFalcon Invoice Discounting: Unlock Your Business Potential
Falcon Invoice Discounting: Unlock Your Business PotentialFalcon investment
 
Call Girls in Delhi, Escort Service Available 24x7 in Delhi 959961-/-3876
Call Girls in Delhi, Escort Service Available 24x7 in Delhi 959961-/-3876Call Girls in Delhi, Escort Service Available 24x7 in Delhi 959961-/-3876
Call Girls in Delhi, Escort Service Available 24x7 in Delhi 959961-/-3876dlhescort
 
How to Get Started in Social Media for Art League City
How to Get Started in Social Media for Art League CityHow to Get Started in Social Media for Art League City
How to Get Started in Social Media for Art League CityEric T. Tung
 
PHX May 2024 Corporate Presentation Final
PHX May 2024 Corporate Presentation FinalPHX May 2024 Corporate Presentation Final
PHX May 2024 Corporate Presentation FinalPanhandleOilandGas
 
BAGALUR CALL GIRL IN 98274*61493 ❤CALL GIRLS IN ESCORT SERVICE❤CALL GIRL
BAGALUR CALL GIRL IN 98274*61493 ❤CALL GIRLS IN ESCORT SERVICE❤CALL GIRLBAGALUR CALL GIRL IN 98274*61493 ❤CALL GIRLS IN ESCORT SERVICE❤CALL GIRL
BAGALUR CALL GIRL IN 98274*61493 ❤CALL GIRLS IN ESCORT SERVICE❤CALL GIRLkapoorjyoti4444
 
Phases of Negotiation .pptx
 Phases of Negotiation .pptx Phases of Negotiation .pptx
Phases of Negotiation .pptxnandhinijagan9867
 
The Path to Product Excellence: Avoiding Common Pitfalls and Enhancing Commun...
The Path to Product Excellence: Avoiding Common Pitfalls and Enhancing Commun...The Path to Product Excellence: Avoiding Common Pitfalls and Enhancing Commun...
The Path to Product Excellence: Avoiding Common Pitfalls and Enhancing Commun...Aggregage
 
Call Girls Kengeri Satellite Town Just Call 👗 7737669865 👗 Top Class Call Gir...
Call Girls Kengeri Satellite Town Just Call 👗 7737669865 👗 Top Class Call Gir...Call Girls Kengeri Satellite Town Just Call 👗 7737669865 👗 Top Class Call Gir...
Call Girls Kengeri Satellite Town Just Call 👗 7737669865 👗 Top Class Call Gir...amitlee9823
 
Falcon Invoice Discounting: Empowering Your Business Growth
Falcon Invoice Discounting: Empowering Your Business GrowthFalcon Invoice Discounting: Empowering Your Business Growth
Falcon Invoice Discounting: Empowering Your Business GrowthFalcon investment
 
Call Girls Electronic City Just Call 👗 7737669865 👗 Top Class Call Girl Servi...
Call Girls Electronic City Just Call 👗 7737669865 👗 Top Class Call Girl Servi...Call Girls Electronic City Just Call 👗 7737669865 👗 Top Class Call Girl Servi...
Call Girls Electronic City Just Call 👗 7737669865 👗 Top Class Call Girl Servi...amitlee9823
 
Al Mizhar Dubai Escorts +971561403006 Escorts Service In Al Mizhar
Al Mizhar Dubai Escorts +971561403006 Escorts Service In Al MizharAl Mizhar Dubai Escorts +971561403006 Escorts Service In Al Mizhar
Al Mizhar Dubai Escorts +971561403006 Escorts Service In Al Mizharallensay1
 
Call Girls From Pari Chowk Greater Noida ❤️8448577510 ⊹Best Escorts Service I...
Call Girls From Pari Chowk Greater Noida ❤️8448577510 ⊹Best Escorts Service I...Call Girls From Pari Chowk Greater Noida ❤️8448577510 ⊹Best Escorts Service I...
Call Girls From Pari Chowk Greater Noida ❤️8448577510 ⊹Best Escorts Service I...lizamodels9
 
Russian Call Girls In Gurgaon ❤️8448577510 ⊹Best Escorts Service In 24/7 Delh...
Russian Call Girls In Gurgaon ❤️8448577510 ⊹Best Escorts Service In 24/7 Delh...Russian Call Girls In Gurgaon ❤️8448577510 ⊹Best Escorts Service In 24/7 Delh...
Russian Call Girls In Gurgaon ❤️8448577510 ⊹Best Escorts Service In 24/7 Delh...lizamodels9
 
Business Model Canvas (BMC)- A new venture concept
Business Model Canvas (BMC)-  A new venture conceptBusiness Model Canvas (BMC)-  A new venture concept
Business Model Canvas (BMC)- A new venture conceptP&CO
 
Falcon's Invoice Discounting: Your Path to Prosperity
Falcon's Invoice Discounting: Your Path to ProsperityFalcon's Invoice Discounting: Your Path to Prosperity
Falcon's Invoice Discounting: Your Path to Prosperityhemanthkumar470700
 
Malegaon Call Girls Service ☎ ️82500–77686 ☎️ Enjoy 24/7 Escort Service
Malegaon Call Girls Service ☎ ️82500–77686 ☎️ Enjoy 24/7 Escort ServiceMalegaon Call Girls Service ☎ ️82500–77686 ☎️ Enjoy 24/7 Escort Service
Malegaon Call Girls Service ☎ ️82500–77686 ☎️ Enjoy 24/7 Escort ServiceDamini Dixit
 
Famous Olympic Siblings from the 21st Century
Famous Olympic Siblings from the 21st CenturyFamous Olympic Siblings from the 21st Century
Famous Olympic Siblings from the 21st Centuryrwgiffor
 

Último (20)

Eluru Call Girls Service ☎ ️93326-06886 ❤️‍🔥 Enjoy 24/7 Escort Service
Eluru Call Girls Service ☎ ️93326-06886 ❤️‍🔥 Enjoy 24/7 Escort ServiceEluru Call Girls Service ☎ ️93326-06886 ❤️‍🔥 Enjoy 24/7 Escort Service
Eluru Call Girls Service ☎ ️93326-06886 ❤️‍🔥 Enjoy 24/7 Escort Service
 
Falcon Invoice Discounting: Unlock Your Business Potential
Falcon Invoice Discounting: Unlock Your Business PotentialFalcon Invoice Discounting: Unlock Your Business Potential
Falcon Invoice Discounting: Unlock Your Business Potential
 
Call Girls in Delhi, Escort Service Available 24x7 in Delhi 959961-/-3876
Call Girls in Delhi, Escort Service Available 24x7 in Delhi 959961-/-3876Call Girls in Delhi, Escort Service Available 24x7 in Delhi 959961-/-3876
Call Girls in Delhi, Escort Service Available 24x7 in Delhi 959961-/-3876
 
Falcon Invoice Discounting platform in india
Falcon Invoice Discounting platform in indiaFalcon Invoice Discounting platform in india
Falcon Invoice Discounting platform in india
 
How to Get Started in Social Media for Art League City
How to Get Started in Social Media for Art League CityHow to Get Started in Social Media for Art League City
How to Get Started in Social Media for Art League City
 
PHX May 2024 Corporate Presentation Final
PHX May 2024 Corporate Presentation FinalPHX May 2024 Corporate Presentation Final
PHX May 2024 Corporate Presentation Final
 
BAGALUR CALL GIRL IN 98274*61493 ❤CALL GIRLS IN ESCORT SERVICE❤CALL GIRL
BAGALUR CALL GIRL IN 98274*61493 ❤CALL GIRLS IN ESCORT SERVICE❤CALL GIRLBAGALUR CALL GIRL IN 98274*61493 ❤CALL GIRLS IN ESCORT SERVICE❤CALL GIRL
BAGALUR CALL GIRL IN 98274*61493 ❤CALL GIRLS IN ESCORT SERVICE❤CALL GIRL
 
Phases of Negotiation .pptx
 Phases of Negotiation .pptx Phases of Negotiation .pptx
Phases of Negotiation .pptx
 
The Path to Product Excellence: Avoiding Common Pitfalls and Enhancing Commun...
The Path to Product Excellence: Avoiding Common Pitfalls and Enhancing Commun...The Path to Product Excellence: Avoiding Common Pitfalls and Enhancing Commun...
The Path to Product Excellence: Avoiding Common Pitfalls and Enhancing Commun...
 
Call Girls Kengeri Satellite Town Just Call 👗 7737669865 👗 Top Class Call Gir...
Call Girls Kengeri Satellite Town Just Call 👗 7737669865 👗 Top Class Call Gir...Call Girls Kengeri Satellite Town Just Call 👗 7737669865 👗 Top Class Call Gir...
Call Girls Kengeri Satellite Town Just Call 👗 7737669865 👗 Top Class Call Gir...
 
Falcon Invoice Discounting: Empowering Your Business Growth
Falcon Invoice Discounting: Empowering Your Business GrowthFalcon Invoice Discounting: Empowering Your Business Growth
Falcon Invoice Discounting: Empowering Your Business Growth
 
Call Girls Electronic City Just Call 👗 7737669865 👗 Top Class Call Girl Servi...
Call Girls Electronic City Just Call 👗 7737669865 👗 Top Class Call Girl Servi...Call Girls Electronic City Just Call 👗 7737669865 👗 Top Class Call Girl Servi...
Call Girls Electronic City Just Call 👗 7737669865 👗 Top Class Call Girl Servi...
 
Al Mizhar Dubai Escorts +971561403006 Escorts Service In Al Mizhar
Al Mizhar Dubai Escorts +971561403006 Escorts Service In Al MizharAl Mizhar Dubai Escorts +971561403006 Escorts Service In Al Mizhar
Al Mizhar Dubai Escorts +971561403006 Escorts Service In Al Mizhar
 
Call Girls From Pari Chowk Greater Noida ❤️8448577510 ⊹Best Escorts Service I...
Call Girls From Pari Chowk Greater Noida ❤️8448577510 ⊹Best Escorts Service I...Call Girls From Pari Chowk Greater Noida ❤️8448577510 ⊹Best Escorts Service I...
Call Girls From Pari Chowk Greater Noida ❤️8448577510 ⊹Best Escorts Service I...
 
Russian Call Girls In Gurgaon ❤️8448577510 ⊹Best Escorts Service In 24/7 Delh...
Russian Call Girls In Gurgaon ❤️8448577510 ⊹Best Escorts Service In 24/7 Delh...Russian Call Girls In Gurgaon ❤️8448577510 ⊹Best Escorts Service In 24/7 Delh...
Russian Call Girls In Gurgaon ❤️8448577510 ⊹Best Escorts Service In 24/7 Delh...
 
Business Model Canvas (BMC)- A new venture concept
Business Model Canvas (BMC)-  A new venture conceptBusiness Model Canvas (BMC)-  A new venture concept
Business Model Canvas (BMC)- A new venture concept
 
Falcon's Invoice Discounting: Your Path to Prosperity
Falcon's Invoice Discounting: Your Path to ProsperityFalcon's Invoice Discounting: Your Path to Prosperity
Falcon's Invoice Discounting: Your Path to Prosperity
 
Malegaon Call Girls Service ☎ ️82500–77686 ☎️ Enjoy 24/7 Escort Service
Malegaon Call Girls Service ☎ ️82500–77686 ☎️ Enjoy 24/7 Escort ServiceMalegaon Call Girls Service ☎ ️82500–77686 ☎️ Enjoy 24/7 Escort Service
Malegaon Call Girls Service ☎ ️82500–77686 ☎️ Enjoy 24/7 Escort Service
 
Famous Olympic Siblings from the 21st Century
Famous Olympic Siblings from the 21st CenturyFamous Olympic Siblings from the 21st Century
Famous Olympic Siblings from the 21st Century
 
(Anamika) VIP Call Girls Napur Call Now 8617697112 Napur Escorts 24x7
(Anamika) VIP Call Girls Napur Call Now 8617697112 Napur Escorts 24x7(Anamika) VIP Call Girls Napur Call Now 8617697112 Napur Escorts 24x7
(Anamika) VIP Call Girls Napur Call Now 8617697112 Napur Escorts 24x7
 

Letter Decision Resolving Defendants' Second Discovery Motion.pdf

  • 1. COURT OF CHANCERY OF THE STATE OF DELAWARE KATHALEEN ST. JUDE MCCORMICK CHANCELLOR LEONARD L. WILLIAMS JUSTICE CENTER 500 N. KING STREET, SUITE 11400 WILMINGTON, DELAWARE 19801-3734 August 25, 2022 Peter J. Walsh, Jr., Esquire Kevin R. Shannon, Esquire Christopher N. Kelly, Esquire Mathew A. Golden, Esquire Callan R. Jackson, Esquire Potter Anderson & Corroon LLP 1313 N. Market Street Hercules Plaza, 6th Floor Wilmington, DE 19801 Brad D. Sorrels, Esquire Wilson Sonsini Goodrich & Rosati, P.C. 222 Delaware Avenue, Suite 800 Wilmington, DE 19801 Edward B. Micheletti, Esquire Lauren N. Rosenello, Esquire Skadden, Arps, Slate, Meagher & Flom LLP 920 N. King Street, 7th Floor P.O. Box 636 Wilmington, DE 19899-0636 Re: Twitter, Inc. v. Elon R. Musk et al., C.A. No. 2022-0613-KSJM Dear Counsel: This letter resolves issues raised in the August 15, 2022 letter from Defendants Elon R. Musk, X Holdings I, Inc., and X Holdings II, Inc. (“Defendants”), which this decision refers to as Defendants’ “Second Discovery Motion.” The motion seeks to compel Twitter, Inc. (“Plaintiff”) to produce various documents, including information to verify Plaintiff’s SEC disclosures regarding its estimates that less than 5% of mDAU are false or spam accounts (the “5% Disclosure”).1 1 C.A. No. 2022-0613-KSJM, Docket (“Dkt.”) 163 (“Defs.’ Second Disc. Mot.”); see also Dkt. 169 (“Pl.’s Response to Defs.’ Second Disc. Mot.”); Dkt. 201 (“Defs.’ Reply to Defs.’ Second Disc. Mot.”); Dkt. 231 (“Pl.’s Sur-Reply to Defs.’ Second Disc. Mot.”). EFiled: Aug 25 2022 03:18PM EDT Transaction ID 67974816 Case No. 2022-0613-KSJM
  • 2. C.A. No. 2022-0613-KSJM August 25, 2022 Page 2 of 4 To deliver a prompt ruling, I will forego recapping each of the arguments raised by Defendants; I assume that readers of this letter are familiar with the parties’ dispute. My overall impression is that Plaintiff has agreed to produce a tremendous amount of information to Defendants, and that the information Plaintiff has agreed to produce is sufficiently broad to satisfy most of Plaintiff’s obligations. This letter orders the production of three additional categories of information. First, as the primary target of their Second Discovery Motion, Defendants seek large troves of Plaintiff’s data.2 In their Second Discovery Motion, Defendants argued that this data was necessary to test the 5% Disclosure.3 In their reply in further support of their Second Discovery Motion, Defendants argued that such documents were also relevant to their counterclaim for fraud—i.e., the theory that Plaintiff misleadingly touted mDAU without disclosing companion engagement data to present a complete picture.4 Defendants’ data requests are absurdly broad. Read literally, Defendants’ documents request would require Plaintiff to produce trillions upon trillions of data points reflecting all of the data Twitter might possibly store for each of the approximately 200 million accounts included in its mDAU count every day for nearly three years.5 Plaintiff has difficulty quantifying the burden of responding to that request because no one in their 2 See Defs.’ Second Disc. Mot. Ex. 6 (“RFPs”) 2, 3, 4, 18, 19. 3 Defs.’ Second Disc. Mot. at 19–21. 4 Defs.’ Reply to Defs.’ Second Disc. Mot. at 7–8. 5 See Pl.’s Response to Defs.’ Second Disc. Mot. Ex. 9 at 1–4; Defs.’ Second Disc. Mot. Ex. 3 at 1–3.
  • 3. C.A. No. 2022-0613-KSJM August 25, 2022 Page 3 of 4 right mind has ever tried to undertake such an effort. It suffices to say, Plaintiff has demonstrated that such a request is overly burdensome.6 That said, some additional data from Plaintiff seems warranted. Plaintiff is ordered to produce a subset of what Defendants have requested: the 9,000 accounts reviewed in connection with Plaintiff’s Q4 2021 audit, which the parties refer to as the “historical snapshot.” I recognize that producing the historical snapshot is no small feat. Plaintiff represented that, with considerable effort, these documents could be produced in under two weeks, and Plaintiff shall strive to meet that timeline. In addition, Plaintiff must produce documents sufficient to show how those 9,000 accounts were selected for review. The historical-snapshot data that I have ordered produced is highly sensitive. To their credit, Defendants have agreed to treat this data as highly confidential. The parties should confer on a list of Defendants’ attorneys and data scientists who will be permitted to access this data. Second, as to Defendants’ mDAU fraud theory, Plaintiff has already agreed to produce ten broad categories of documents addressing mDAU, including documents reflecting Plaintiff’s reliance on mDAU relative to other metrics.7 Plaintiff is ordered produce a small additional set of data from its review database—documents reflecting discussion of any other key metric identified by Defendants, regardless of whether those 6 See Dkt. 169 (Edgett Aff.) ¶ 5 (averring that a less extensive collection effort would be extraordinarily burdensome). 7 See Pl.’s Response to Defs.’ Second Disc. Mot. at 10; see generally id. Ex. 6.
  • 4. C.A. No. 2022-0613-KSJM August 25, 2022 Page 4 of 4 documents expressly address mDAU. Although Plaintiff may not withhold documents in its existing review database concerning these other key metrics, Plaintiff need not engage in further collection to satisfy this obligation. Third and finally, Plaintiff is ordered to produce documents responsive to Defendants’ RFP 49 at the board and management level from January 1, 2021 to the present. Defendants’ other requests in their Second Discovery Motion are denied. IT IS SO ORDERED. Sincerely, /s/ Kathaleen St. Jude McCormick Kathaleen St. Jude McCormick Chancellor cc: All counsel of record (by File & ServeXpress)