Twitter sues Elon Musk to complete the acquisition for the agreed value

Twitter sues Elon Musk to complete the acquisition for the agreed value
Twitter sues Elon Musk to complete the acquisition for the agreed value


Twitter has sued billionaire entrepreneur Elon Musk for violating a 44 billion dollars deal to buy the social media platform.


Twitter has asked a Delaware court to order the world's richest person to complete the acquisition for a  54.20 dollars share of Twitter, according to the lawsuit.


After proposing the takeover agreement ... and then signing it, Musk apparently believes that, unlike all other parties subject to Delaware Contracts Act, he is free to change his mind, disrupt the company’s operations and destroy the value of its shares before going his way, the lawsuit says.


Musk said Friday that he terminated the deal because Twitter violated the agreement by not responding to requests for information about fake accounts or spam on the platforms, which is essential to its business.


The lawsuit accused Musk of committing a "long list" of takeover agreement violations that cast a shadow over Twitter and its business.


Shares in the social media platform fell to  34.06 dollars on Tuesday from more than  50 dollars when Twitter's board of directors approved the deal in late April.


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