WILMINGTON, Del. (Reuters) – Twitter Inc sued Elon Musk on Tuesday for violating the $44 billion deal to purchase the social media platform and requested a Delaware court docket to order the world’s richest particular person to finish the merger on the agreed $54.20 per Twitter share, in response to a court docket submitting.
“Having mounted a public spectacle to place Twitter in play, and having proposed after which signed a seller-friendly merger settlement, Musk apparently believes that he – not like each different get together topic to Delaware contract legislation – is free to vary his thoughts, trash the corporate, disrupt its operations, destroy stockholder worth, and stroll away,” stated the lawsuit.
On Friday, Musk stated he was terminating the deal as a result of Twitter violated the settlement by failing to reply to requests for data relating to pretend or spam accounts on the platforms, which is key to its enterprise efficiency.
(Reporting by Tom Hals in Wilmington, Delaware; Modifying by Chris Reese and Matthew Lewis)
