The lawsuit was filed in a court in Delaware on Tuesday, July 12. You can get to know yourself exactly from the link. It is particularly noted among the accusations. Gathering information to create more competitors as well as attempts to destroy the company. According to Twitter’s lawyers, Musk “showed contempt” and to prove it, several screenshots of his tweets were provided directly in the text, with memes and emoticons. Now the court must decide whether Elon Musk has the right to unilaterally withdraw from the deal.

Twitter, Musk and irreparable damage

After months of discussions, letters, and threats to end the deal, Musk revealed that he changed his mind about buying the social network because he didn’t believe the estimation of the number of bots and spam accounts by the number of such pages. only 5%.

The company called Musk’s actions an “example of hypocrisy” because after he announced the purchase, he “knew about the fake accounts and promised to get rid of the platform.”

After putting on a show and then offering and signing a buyout agreement in favor of the seller, Musk apparently believes, unlike any other party under Delaware law, that he could disrupt the company, destroy share value, and walk away.
– says the lawsuit.

Twitter points out that Musk’s team repeatedly and deliberately ignored meetings with Twitter’s CEO and executive director, where they were required to hand over data at their request. As a result, the buyer still had access to 49 terabytes of raw user data that met the requirements, but the entrepreneur was still not satisfied. Therefore, the company believes and fears that it rejected the deal for a fictitious reason. data can be used to create a competing social network.

Musk refuses to honor his obligations to Twitter and its shareholders, as the deal he signed no longer serves his personal interests. Musk seems to think he is free to change decisions, destroy the company, disrupt operations, destroy shareholder value.
– It is stated in the statement of claim.

The court must now determine whether Musk has the right to unilaterally terminate the merger agreement with Twitter, as the management of the social network allegedly failed to provide him with the necessary information about the proportion of fake accounts and accounts used for mass mailing.

Twitter expects the court to begin hearing the case in mid-September 2022. Earlier, it was reported that in case of termination of the contract, the entrepreneur must pay compensation of approximately 1 billion dollars to the company.