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Twitter sued Elon Musk for refusing to buy the social network for $44 billion. The platform aims to force Tesla’s president to fulfill his obligations and complete the
Twitter sued Elon Musk for refusing to buy the social network for $44 billion.
The platform aims to force Tesla’s president to fulfill his obligations and complete the purchase. The document says the entrepreneur was “demonstrating” and acting maliciously:
Musk thinks […] He might change his mind, disrupt the company, destroy shareholder value, and leave.”
Before the lawsuit was officially filed, Twitter’s lawyers called the termination of the deal illegal.
Recall that in April, Elon Musk bought a 9.2% stake on Twitter and later offered to buy the company at $54.2 per share. The administration of the social network agreed to the terms.
The entrepreneur described the initiative with his desire to create an “inclusive arena for freedom of expression”.
However, in May, Musk suspended the acquisition after reports of inflated social media viewership numbers. Twitter shareholders subsequently filed a lawsuit over the “chaotic process” of the company’s takeover, accusing Tesla’s chairman of manipulating the market.
In July, Musk announced that the deal to buy the social network had been terminated.
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I’m Sandra Torres, a passionate journalist and content creator. My specialty lies in covering the latest gadgets, trends and tech news for Div Bracket. With over 5 years of experience as a professional writer, I have built up an impressive portfolio of published works that showcase my expertise in this field.
