Twitter said Tuesday it has sued Elon Musk to force him to complete the $44 billion acquisition of the social media company.
SAN FRANCISCO --
Musk and Twitter have been bracing for a legal fight since the billionaire said Friday he was backing off of his April agreement to buy the company. The chair of Twitter's board, Bret Taylor, tweeted Tuesday that the board has filed a lawsuit in the Delaware Court of Chancery"to hold Elon Musk accountable to his contractual obligations."
Twitter's lawsuit opens with a sharply-worded accusation that"Musk refuses to honor his obligations to Twitter and its stockholders because the deal he signed no longer serves his personal interests." "Having mounted a public spectacle to put Twitter in play, and having proposed and then signed a seller-friendly merger agreement, 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," the suit says.
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Twitter sues to force Elon Musk to complete his $44B acquisitionTwitter said Tuesday it has sued Elon Musk to force him to complete the $44-billion acquisition of the social media company.
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Twitter sues Elon Musk to force him to complete $44B acquisitionIt's about to be a lengthy battle in the courtroom with Twitter announcing they are suing Elon Musk. The social media company wants to force him into completing the $44 billion buyout. Details
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Twitter sues to force Elon Musk to complete his $44B acquisitionMusk and Twitter have been bracing for a legal fight since the billionaire said Friday he was backing off of his April agreement to buy the company.
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