Twitter Deal Ends: Twitter will drag Elon Musk to court, entrusted the responsibility of top New York law firm
Twitter will sue Musk in Delaware next week.
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Tesla and SpaceX CEO Elon Musk will now be dragged to court for breaking the agreement to buy Twitter for $ 44 billion. Twitter has tasked a top New York law firm to file a case against Musk.
We will win the legal battle: Brett Taylor
Twitter chairman Brett Taylor said on Saturday that the company's board of directors has agreed to break the deal with Musk according to the agreed price and terms, but legal action will be taken against Musk for complying with the terms of the merger agreements. is being planned. We are sure that we will win in this legal battle. A case will be filed against Musk in a Delaware court.
Musk alleges that the number of fake accounts in Twitter exceeds five percent
Earlier on Saturday, Musk's team sent a letter to Twitter and announced the termination of the $ 44 billion purchase agreement. The letter states that Twitter has violated several terms of the purchase agreement, due to which the decision has been taken to postpone the deal. The Tesla CEO's team believes that Twitter accounts for more than 5 percent of spam and fake accounts, so Musk is terminating the acquisition deal. The letter sent by Musk also alleges that he has repeatedly requested Twitter to give the exact number of his accounts over the past two months, but no information was given.
Warning given in June, announced to end the agreement in July
Let us tell you, in April, Musk signed an agreement to buy Twitter for about $ 44 billion at a price of $ 54.20 per share. Musk then asked for records to confirm the veracity of Twitter's claim that the microblogging site has less than five percent of fake and spam accounts. He put the deal on hold in May until it was confirmed. In June, Musk again accused Twitter of breaching the deal. Along with this, he had warned of termination of the purchase agreement if the requested data was not given.
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