Things are getting weird between Elon Musk and Twitter. Tesla and SpaceX CEO terminated the $44 billion deal a couple of days ago. The social media company claims Musk‘s justifications are invalid and unfair and will go to court. Seems like Twitter kept its word. Because officially announced: The company and Elon Musk are moving to the courts.
Twitter sued Elon Musk: Will he buy the company?
Twitter filed a lawsuit against Elon Musk on Tuesday, saying he refused to buy the company. The social media giant’s purposes are to enable Musk to fulfil his obligations and make him complete the deal. The lawsuit was filed in the Delaware Court of Chancery.
The company agreed with Wachtell, Lipton, Rosen & Katz, which has deep connections to the Delaware Court of Chancery. Since the deal deadline is October 24, Twitter wants the case to be concluded before this date.
If we go back a bit, the $44 billion deal was announced on April 25 between Twitter and Elon Musk. At first, everything was good, but things changed after the company shared that spam and fake accounts comprise less than 5 percent of users. After that, Tesla and SpaceX CEOs did not believe these data and said the deal to buy the platform was temporarily on hold. After a while, he cancelled the agreement.
The legal battle between the two sides has officially begun. We will see who will be the winner. So what do you think about this? Do not forget to share your views with us in the comments section.