Elon Musk SUED by Twitter for 'backing out of $44bn deal' to buy platform
TWITTER has sued Elon Musk after he backed out of his $44billion deal to buy the social media platform., alleging in a letter that Twitter "breached" the merger agreement.
“Having mounted a public spectacle to put Twitter in play, and having proposed and then signed a seller-friendly merger agreement, 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-2-walk away,” the lawsuit said.
“Twitter brings this action to enjoin Musk from further breaches, to compel Musk to fulfill his legal obligations, and to compel consummation of the merger upon satisfaction of the few outstanding conditions," the filing continued.has publicly threatened to walk away from the sale because Twitter failed to provide information regarding its spam and bot accounts, which was formally requested in a letter dating May 25.
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