Twitter sues Elon Musk, forces him to complete $44B acquisition
Posted July 12, 2022 4:34 pm.
Twitter said Tuesday the social media company has sued Elon Musk to force him to complete the $44 billion acquisition.
Musk and Twitter have been bracing for a legal fight since the billionaire said Friday he was backing off of his April agreement to buy the company.
Twitter has filed a lawsuit in the Delaware Court of Chancery to hold Elon Musk accountable to his contractual obligations.
— Bret Taylor (@btaylor) July 12, 2022
The chair of Twitter’s board, Bret Taylor, tweeted Tuesday that the board has filed a lawsuit in the Delaware Court of Chancery “to hold Elon Musk accountable to his contractual obligations.”
The trial court in Delaware frequently handles business disputes among the many corporations, including Twitter, that are incorporated there.
Last week, Taylor said the Twitter Board was “committed to closing the transaction on the price and terms agreed upon with Mr. Musk and plans to pursue legal action to enforce the merger agreement.”
“We are confident we will prevail in the Delaware Court of Chancery.”
