TWITTER SUES ELON MUSK OVER VIOLATION OF $44 BILLION MERGER DEAL
Twitter filed a suit in the US state of Delaware court of Chancery on Tuesday 12th July, 2022 urging the court to order the billionaire to complete the deal to buy twitter. Even after entering into a merger agreement. Twitter law-suit was expected after Elon Musk claimed last week that he will not buy the social platform.
Elon Musk now wants to walk-away from the deal claiming that twitter withheld some of the information including the number of spam & fake accounts.
The filed law suit brings on a tough legal battle that would see Elon Musk to pay $54.20 per share of the company. The outcome will see him either complete the deal or force him pay a $ 1 billion deal breakup fee. However the suit may be settled on a renegotiated purchase price or even Elon Musk would just walk away without paying anything