Musk abandoned the $44bn deal on Friday, citing in part concerns about the number of fake accounts among users
Twitter sued billionaire Elon Musk over his abandoned $44bn takeover bid, asking a judge to force him to follow through on his offer.
The filing sets up what will be a closely watched court battle between Musk and Twitter, a communications tool that the billionaire favours but where his missives have previously landed him in legal trouble. Musk also argued that Twitter has failed to operate its normal course of business. The company instituted a hiring freeze, fired senior leaders and saw other major departures. “The company has not received parent’s consent for changes in the conduct of its business, including for the specific changes listed above,” Musk said in the letter, calling it a “material breach” of the merger agreement.
Musk’s deal with Twitter had included a provision that if it fell apart, the party breaking the agreement would pay a termination fee of $1bn, under certain circumstances. Legal experts have debated whether the conflict over spam bots is enough to allow Musk to walk away from the deal. Twitter told staff in a memo that it has asked for the case to be heard on an expedited basis, in September.
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