Twitter Sues Elon Musk to Enforce $44 Billion Buyout Deal — Insists Breach Allegations Lack Merit – Featured Bitcoin News
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Twitter Inc. has filed a lawsuit against Tesla and Spacex CEO Elon Musk for backing out of the deal to buy the social media platform for $44 billion. The social media giant is seeking relief to the extent permitted under the merger agreement and an order forcing Musk to go through with the buyout deal. The lawsuit states: “Musk and his entities should be enjoined from further breaches, ordered to comply with their obligations to work toward satisfying the few closing conditions, and ordered to close upon satisfaction of those conditions” Twitter insisted that “These claims are pretexts and lack any merit” and that Musk’s “exit strategy is a model of hypocrisy” The lawsuit was filed in the Delaware Court of Chancery. Source