Twitter, popular microblogging platform, says it has sued
Elon Musk to compel him to continue with his planned buyout of the social media
company for $44 billion.
This was disclosed in a lawsuit filed in Delaware’s Court of
Chancery on Tuesday, according to NPR.
The lawsuit accuses Musk of hypocrisy and bad faith in his
dealings with Twitter.
It also puts Twitter and Musk up for a lengthy, expensive,
and high-stakes battle in which the former will try to force the hand of the
latter.
“Musk refuses to honour his obligations to Twitter and its
stockholders because the deal he signed no longer serves his personal
interests,” the complaint says.
“Musk apparently believes that he — unlike every other party
subject to Delaware contract law — is free to change his mind, trash the
company, disrupt its operations, destroy stockholder value, and walk away.”
In a bid to privatise the microblogging platform, the
billionaire had offered to buy Twitter for $43 billion in April.
He later agreed to acquire the platform for $44 billion.
But after several internal turmoils on the buyout, Musk
decided to soft-pedal on his acquisition bid, citing reasons of fake accounts
on the platform.
However, on Friday, Musk said he was terminating the $44
billion Twitter deal, adding that the social media company had failed to
provide information about fake accounts on the platform.
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