Twitter Sues Elon Musk to Force Acquisition Deal

Twitter won't let Musk walk away without honoring their deal.

Twitter won’t let Musk walk away without honoring their deal.

Last week, Tesla and SpaceX CEO Elon Musk announced his intent to back out of the deal that he signed with Twitter to buy all of its shares and assume ownership of the social platform in entirety. According to Musk’s lawyer, who released a letter on Friday, Twitter failed to provide Musk with information related to his concerns about the prevalence of bot and spam accounts on the platform.

Yesterday, Twitter filed a legal complaint against Musk with the goal of forcing him to honor their deal. According to the complaint, Twitter seeks to “compel consummation of the merger upon satisfaction of the few outstanding conditions.”

“In April 2022, Elon Musk entered into a binding merger agreement with Twitter, promising to use his best efforts to get the deal done,” the complaint reads. “Now, less than three months later, Musk refuses to honor his obligations to Twitter and its stockholders because the deal he signed no longer serves his personal interests.”

The complaint goes on to say that, “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.”

Musk has not made any official responses to Twitter’s lawsuit, though he did post a brief Twitter message that read “Oh the irony lol.”

Follow @TwistityNews