Social media company Twitter has sued Tesla and SpaceX CEO Elon Musk for terminating the nearly $44 billion acquisition deal.
In the complaint filed by Twitter, it was stated that Musk refused to fulfill his obligations to Twitter and its shareholders because the deal he signed “no longer serves his personal interests.”
In the complaint, it was noted that Musk’s claims to terminate the agreement were “excuses” and had “no basis.” “Since the signing of the merger deal, Musk has repeatedly disparaged Twitter and the deal, putting downward pressure on Twitter’s business risk and share price,”
It was reported on July 8 that Elon Musk terminated the deal to buy the social media company Twitter, citing violations of multiple provisions.
Musk’s lawyer, on the other hand, said that Twitter had violated many provisions of the agreement and made false and misleading statements.
If the transaction was not completed with the termination decision, the agreement requiring Musk to pay 1 billion dollars was on the agenda.
