Twitter has sued Elon Musk to make him to buy the social media company for $44 billion, a deal Musk said last week he was calling off.
On Friday, Musk notified Twitter he was terminating the deal. Musk is trying to exit the $44 billion acquisition deal they announced on April 25th based on his claims Twitter has failed to satisfy his requests for information about bot activity and spam on the platform. These, Musk said, were grounds for abandoning the purchase.
Twitter says it’s Musk has violated the deal. “These claims are pretext and lack any merit,” the complaint says.
The lawsuit, filed in Delaware’s Court of Chancery on Tuesday, accuses Musk of hypocrisy and bad faith in his dealings with Twitter.
The lawsuit sets Twitter and Musk up for a lengthy, expensive and high-stakes battle in which a once-reluctant seller will try to force the hand of a now unwilling buyer.
Twitter’s action is to stop Musk from further breaches, obligate Musk to fulfill his legal requirements, and to complete the transaction to satisfy contractual obligations.
Twitter has filed a lawsuit in the Delaware Court of Chancery to hold Elon Musk accountable to his contractual obligations.
— Bret Taylor (@btaylor) July 12, 2022