Twitter filed a lawsuit against Elon Musk for violating the $44 billion deal to buy the social media platform and asked a Delaware court to order him to complete the merger.
"Having mounted a public spectacle to put Twitter in play, and having proposed and then signed a seller-friendly merger agreement," said the lawsuit, "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."
Days earlier, Twitter's lawyers sent a letter to Musk’s lawyers, saying that his move to terminate the deal was “invalid and wrongful” and that he had “knowingly, intentionally, willfully and materially breached” his agreement to buy the platform.
References
- Twitter Inc. v. Elon R. Muskdocumentcloud.org
Full lawsuit
- Twitter lettersec.gov
Via SEC
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