According to NPR, this was revealed in a case filed in Delaware’s Court of Chancery on Tuesday.
Musk is accused of hypocrisy and bad faith in his relations with Twitter, according to the lawsuit.
It also sets up Twitter and Musk for a protracted, costly, and high-stakes war in which the former will attempt to compel the latter’s hand.
“Musk refuses to honor his obligations to Twitter and its stockholders because the deal he signed no longer serves his personal interests,” the complaint says.
“Musk apparently believes that he — unlike every other party subject to Delaware contract law — is free to change his mind, trash the company, disrupt its operations, destroy stockholder value, and walk away.”
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In an attempt to privatize the microblogging site, the billionaire offered $43 billion in April.
He later agreed to pay $44 billion for the platform.
However, following multiple internal squabbles over the buyout, Musk decided to back down on his acquisition bid, citing fraudulent accounts on the network as the reason.
However, Musk announced on Friday that he was canceling the $44 billion Twitter transaction, citing the social media company’s failure to share information about false accounts on the network.
The Post ‘Twitter is suing Musk for the cancellation of a $44 billion takeover deal’ initially appeared on reubenabati
