Twitter has sued Tesla owner Elon Musk for not keeping the end of his bargain. The case has been registered by the company in the Delaware Court of Chancery. The social media company argued that the lawsuit is a legal action against Musk for attempting to step back from the $44 billion acquisition. In the Twitter vs Elon Musk matter, the social media firm seems rigid toward making the Spacex founder complete the $44 billion deal.
What is Twitter vs Elon Musk Legal Dispute All About?
Twitter vs Elon Musk is a legal concern on behalf of Twitter as the Tesla owner refused to comply with his obligation. Musk is trying to escape the $44 billion deal to buy the microblogging company that was announced on April 25. The Twitter board chairman Bret Taylor tweeted that the ongoing legal conflict between the company and the wealthiest man is to hold him responsible.
Why is Elon Muck Toying with Twitter?
Twitter vs Elon Musk bettal has been going on since the deal was struck in April. Previously, Musk made an unusual and least expected offer to the social media company i.e. 44 billion USD. However, he is now turning his back on the deal. Also, Twitter investors were suing Musk for the takeover bid at the time the deal was taking place. The suit accused Musk of violating California corporate laws and wrongful conduct. The very issue turned out to be chaotic for the investors and representatives at the company’s San Francisco headquarters.
Musk’s Response to The Lawsuit
Elon Musk as expected has been taking jibes at the Twitter by using the same platform. Right after the Twitter vs Elon Musk took the form of a lawsuit, he tweeted “Oh the Irony LOL”
The billionaire seems to be making fun of the entire scene since he was the one who got himself attached to the social media firm. And now the whole deal with the company is being jeopardized. Musk is reportedly backtracking because of the allegedly high number of bots on Twitter; he has expressed this concern through memes as well. The fate of the Twitter vs Musk case may set an interesting precedent for business conglomerates.