Twitter sues Elon Musk for violating $44 billion deal
As per latest reports, Twitter has asked a Delaware court to schedule a four-day trial in mid-September
Twitter has sued Elon Musk for violating the $44-billion deal to acquire the micro-blogging site.
Latest reports say Twitter has asked a Delaware court to schedule a four-day trial in mid-September.
In reply to the suit, Musk simply replied: Oh the irony lol
Oh the irony lol
— Elon Musk (@elonmusk) July 12, 2022
As per media reports, the lawsuit says: "Musk apparently believes that he - unlike every other party subject to Delaware contract law - is free to change his mind, trash the company, disrupt its operations, destroy stockholder value, and walk away".
On the other hand, Musk had said on Friday that he was terminating the deal because Twitter had violated the agreement by not providing information about fake or spam accounts.
In May, Musk had tweeted that he was putting the deal "temporarily on hold" for the same reason. The Tesla CEO was reacting to a news story about false or spam accounts representing fewer than 5% of its monetizable daily active users during the first quarter.
