Twitter has filed a lawsuit against Elon Musk, ending the $44 billion acquisition.court documentsthat was made public on Tuesday evening.
Last week, Musk withdraw fromThe deal, citing concerns that there were bot and spam accounts on the platform, resulted in Twitter hiring Watchell, Lipton, Rosen & Katz LLP to prepare for a lawsuit filed in the US state of Delaware.
Twitter lawyers say they must prevent Musk from violating the agreement and to “Forced to reach an acquisition agreement”
“In April 2022, Elon Musk entered into an acquisition agreement with Twitter, promising to use his best efforts to reach an agreement,” the petition states, “but now, less than three months later, Musk has refused to act. according to his agreement with Twitter and its shareholders. Because the agreement he signed is no longer for his personal benefit.”
Some analysts have suggested that Musk simply needs to find an excuse to cancel a deal that now appears to be overpriced after the slump in Twitter shares and the tech market as a whole.
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