Elon Musk and Twitter are now in judicial battle. On Tuesday, the social media corporation launched a lawsuit against the richest man in the world, alleging that he is refusing to “respect his commitments” under their contract and requesting that they force him to complete the transaction. On the grounds that he believes Twitter has refused to respond to his demands for information regarding bot activity and spam on the network, Musk is attempting to back out of the $44 billion acquisition deal that was announced on April 25th.
According to Twitter’s lawsuit, which was filed in the Delaware Court of Chancery, where the business is incorporated, “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.” Twitter board chairman Bret Taylor stated in a quick tweet that the lawsuit aims to “hold Elon Musk accountable,” while Twitter spokesperson Catherine Hill was silent beyond the court filing.
Musk reacted with his own post shortly after Twitter filed the lawsuit, writing, “Oh the irony lol.”
According to the lawsuit, Musk went above and beyond to extend an unexpectedly substantial offer to Twitter, only to turn around and toy with the prospect of ending their contract nearly immediately. Twitter claims that Musk sought a way out of the arrangement, which required a “substantial adverse effect” or breach of contract, once the market flipped and tech stocks started to fall. According to the lawsuit, “Musk had to try to conjure one of those.”
