Twitter sued Elon Musk on Tuesday for breaching the company’s $44 billion purchase contract. calling the tycoon’s strategy a “model of hypocrisy”according to court documents.
The lawsuit filed in the US state of Delaware urges the court to order Musk to complete his Twitter purchase agreementarguing that no economic compensation can repair the damage caused to the company.
“Musk’s conduct confirms that he wants to escape the binding contract he freely signed, and harming Twitter in the process”, maintains the company in the lawsuit. “Twitter has suffered and will continue to suffer irreparable harm as a result of the defendants’ breaches,” she says.
Shares of Twitter rose slightly in after-market trading as news of the possible sale broke. Now analysts saye Musk’s announcement to cancel the purchase puts the company in a complex situation in a difficult moment.
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After weeks of threats, Musk withdrew Twitter’s takeover offer late last week, accusing the social network of make “misleading” statements about the number of fake accountsaccording to a letter from his lawyers delivered to US market regulators.
In his first public statements since his announcement, Musk took to Twitter over the weekend to troll the company. “They said he couldn’t buy Twitter. Then they did not want to reveal the information of the bots. Now they want to force me to buy Twitter in court. Now they have to reveal information about bots in court”he wrote in a trill accompanied by images of Musk laughing.
The termination of the purchase agreement that Musk signed in April sets the stage for a potentially lengthy court battle with Twitter, which had initially opposed selling the companyto the businessman.
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Twitter defends its control of false accounts and has promised to force Musk to complete the agreement, which included a penalty of 1,000 million dollars in case of non-compliance.
The social network says that the number of fake accounts is less than 5%a figure questioned by Musk, who believes that the percentage is much higher.
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