As promised, Twitter finally filed a lawsuit against Elon Musk in court, regarding his decision to withdraw from the acquisition agreement. Musk tried to walk out of the $44 billion deal, claiming Twitter had failed to comply with his requests about bot and spam activity on the platform known as the blue bird logo.
“Twitter is taking this action to order Musk from further infringement, to compel Musk to fulfill his legal obligations, and to force consummation of the merger after meeting several unresolved conditions,” Twitter wrote in the lawsuit, which was filed in the Delaware Chancery Court, where the company was founded. quoted from The Verge (13/7).
The lawsuit says Musk went to great lengths to make an unexpected and extraordinarily generous offer to Twitter, only to immediately turn around, mess around, and abandon their agreement.
After tech stocks started to plummet, Musk sought a way out of the deal, by way of “material adverse effects” or breach of contract, the company claims in the lawsuit.
Musk's argument over the Twitter spam bot issue is also being questioned. Despite his concerns, the lawsuit alleges Musk did not ask Twitter about estimates of bot and spam accounts before the agreement was made.
“He even sweetened his offer,” the lawsuit says.
Given that the merger agreement with Musk has an October 24 deadline, Twitter wants the case to be resolved before then. The company pushed its case to trial for just four days in mid-September.
Twitter was also previously reported to have teamed up with leading law firms, Wachtell, Lipton, Rosen & Katz, to fight Musk in this legal battle.
In addition, Twitter board chairman Bret Taylor tweeted that the lawsuit was meant to hold Elon Musk accountable. Shortly after Twitter filed the lawsuit, Musk also responded by writing “Irony” in his own tweet.
Oh the irony lol
— Elon Musk (@elonmusk) July 12, 2022