Twitter has finally taken Elon Musk to court. The social medium is demanding in a judge in the American Delaware that the richest man in the world adhere to the proposed deal to take over the company for $ 54.20 per share. In total, it is about 44 billion dollars.
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“Musk apparently believes that – unlike everyone else – he can just change his mind, leave the company broken, disrupt things and walk away,” the indictment reads.
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Musk said on Friday that he no longer wants to buy Twitter because, according to him, the company does not provide insight into the number of spam and bot accounts. The actual number of Twitter users matters to the value of the stock. But Twitter wants to hold the Tesla founder to his accepted $44 billion offer.
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Share fell
As a result, Twitter shares lost more than 11 percent in value on Wall Street on Monday. On Tuesday, the price recovered by a few percent. The price drop could have been even greater if there had not been months of uncertainty about the deal between Musk and Twitter, which has caused many investors to no longer believe in it.
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Twitter lawyers call Elon Musk’s decision to end the acquisition of the social media company “void and unlawful” in a letter to the billionaire’s lawyers. “Twitter has not breached any of its obligations under the agreement,” Twitter attorney William Savitt wrote to Musk’s lawyers. According to Savitt, Twitter reserves all contractual and legal rights, including the right to specifically enforce Musk’s obligations under the agreement.
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laconic
Musk himself looks forward to a possible lawsuit with confidence, at least that is the conclusion from a few tweets he sent on Monday. He has worked himself into a meme, in which he laughs hard at the turn of events. “Now they want to force me to buy Twitter,” reads one of the memes. In addition, a smiling Musk. Below that: “Now they have to reveal all the information about the bots in court.”
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