Home WORLD AMERICA Twitter is suing Elon Musk to force him into a takeover

Twitter is suing Elon Musk to force him into a takeover

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A judge specializing in business law, in the state of Delaware (eastern United States), will therefore have to determine whether or not the multi-billionaire can terminate the acquisition agreement which provides for termination indemnities of one billion. of dollars.

In his complaint, Twitter accuses the businessman of having orchestrated a public display and of having believed himself above the laws of contract, after having proposed and then signed an amicable takeover agreement.

Elon Musk believes himself free to change your mind, trash the company, disrupt its operations, destroy shareholder value and leaveis it written in the document filed Tuesday by Twitter with the court.

The Tesla boss announced on Friday that he was terminating the $44 billion buyout agreement with Twitter, because he accused the group of having breached its contractual obligations by notably providing erroneous or incomplete data on the number of fake accounts. . Twitter has denied those accusations.

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No comment could be immediately obtained from Elon Musk.

Twitter accuses the billionaire of a long list violations of their agreement, with the consequence of having cast a veil over Twitter and its activities.

The social network’s stock tumbled to US$34.06 on Tuesday, from more than US$50 when Elon Musk’s buyout offer was accepted by Twitter’s board in late April.

Twitter has suffered and will continue to suffer irreparable damage from the breaches of Elon Musk, assert the lawyers of the company based in San Francisco.

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