Twitter is suing Elon Musk, asking a US court to keep him on a $44 billion deal to buy the social media company | Science and technology news
Twitter has filed a lawsuit against Elon Musk after the billionaire said he would pull out of a $44 billion deal to take over the company.
The social media company asked a Delaware court to order Mr Musk to complete the merger at the agreed price of $54.20 per Twitter share.
His court filing said: “Having organized a public spectacle to bring Twitter into play, and having proposed and then signed a seller-friendly merger agreement, Musk appears to believe that, unlike any other party subject to contract law, Musk of Delaware – free to change your mind, ruin the company, disrupt its operations, destroy shareholder value and walk away.”
Twitter CEO Bret Taylor tweeted that the board had filed a lawsuit in the Delaware Court of Chancery “to hold her Elon Musk responsible for its contractual obligations”.
The trial court frequently deals with business disputes between the many companies, including Twitter, that are incorporated there.
Mr Musk, the richest man in the world, said last week he was cancellation of the deal because the social media company violated the agreement by not responding to requests for information about fake or spam accounts on the platforms, which is fundamental to its business success.
That’s what his representatives said Twitter had failed to provide data and information requested by Mr Musk to allow him to make “an independent assessment of the prevalence of fake or spam accounts” on the social media platform.
“Sometimes Twitter has ignored Mr. Musk’s requests, sometimes it has refused them for seemingly unjustified reasons, and sometimes it has claimed to do so while giving Mr. Musk incomplete or unusable information,” the statement said.
Last month, Twitter said it was providing Mr. Musk with a “fire hose” of raw data on hundreds of millions of daily tweets.
For years, the company has stated in regulatory filings that it believes about 5% of the accounts on its platform are fake.
Mr Musk has also claimed Twitter breached the acquisition agreement when it fired two top executives and fired a third of its talent acquisition team.
Musk urges Donald Trump to ‘sail into the sunset’
Meanwhile the The head of SpaceX and Tesla has clashed with Donald Trumpand told the former US President it was time for him to “hang up his hat and sail into the sunset”.
The first salvo in the spat appears to have been some less-than-positive comments about the Tesla boss made by Mr. Trump at a rally in Anchorage, Alaska on Saturday.
“[Musk]said the other day I’ve never voted for a Republican,” Trump said.
“I said I didn’t know; he told me he voted for me. He’s another bull***t artist, but he won’t buy it (Twitter).”
Musk responded on Twitter, saying, “I don’t hate the man, but it’s time for Trump to hang up his hat and sail into the sunset.”