Twitter launched a massive lawsuit against Tesla CEO Elon Musk after the billionaire decided to pull out of his $44 billion purchase deal.
This comes after Musk announced last week that he planned to pull out of the massive deal due to being ‘misled’ about Twitter’s number of bots and fake accounts.
Lawyers acting for the SpaceX CEO said that Twitter made ‘false and misleading representations upon which Mr Musk relied when entering into the Merger Agreement.’
However, this doesn’t appear to be good enough grounds for pulling out of the deal and the lawsuit, launched on the 12th of July, says the tech billionaire needs to honour his agreement.
‘Musk entered into a binding merger agreement with Twitter, promising to use his best efforts to get the deal done’ reported The Guardian. ‘Now, less than three months later, Musk refuses to honour his obligations to Twitter and its stockholders because the deal he signed no longer serves his personal interests’.
The lawsuit also blasted Musk’s expectations to put Twitter in a ‘public spectacle’ as he ‘apparently believes that he is free to change his mind, trash the company, disrupt its operations, destroy stockholder value and walk away.’
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