Twitter authorities have finally filed a lawsuit against Tesla CEO Elon Musk. The lawsuit was filed in a Delaware court in the United States after it withdrew from a $ 4.4 billion deal. The lawsuit seeks to have the billionaire buy the popular social media company for $ 54.20 per shares as promised.
At the same time, Twitter authorities have made a number of allegations against Musk. In the counter-lawsuit, Musk now wants to cancel the deal because his personal interests in the deal are no longer being met.
Musk now thinks he’s probably not bound by Delaware’s contract law like everyone else, by taking away Twitter’s attention to buying Twitter, proposing it, then making a deal to acquire Twitter; He thinks that if he wants to, he can change his mind, throw out a company, disrupt its work, put its shareholders in the way, then get out of the deal.
Twitter chairman Brett Taylor said in a tweet that they wanted to make sure that Musk agreed to the deal.
And Musk tweeted: “Oh what a joke LOL [laughs]”
This drama started on April 4 between Twitter and Elon Musk. Musk made a splash in the technology market with a sudden announcement that he owned 9.2 percent of the microblogging platform. He owned most of the company’s shares, albeit for a few days.
Mask was invited to join the company’s board of directors as he owns a large number of shares. At first he agreed to the offer, but at the last minute he turned down the offer. Instead, on April 14, he offered to buy the entire Twitter account. Twitter’s board of directors, initially moved by the suddenness of the flow of events and Mask’s whimsical behavior, did not agree at first. But under pressure from shareholders, they come to terms with the mask. On April 25, Twitter’s board of directors announced it would accept Musk’s offer. The deal was to hand over ownership of Twitter to Mask for $ 4.4 billion.
But less than two and a half months later, on July 9, Musk announced his withdrawal from the agreement, citing breaches of multiple conditions. In documents filed with the US Securities and Exchange Commission, Musk’s lawyers claim that Twitter has failed to provide enough information on the number of spam and fake accounts, which is the main reason for canceling the deal.