Twitter’s lawsuit opens with a sharply-worded accusation that “Musk refuses to honor his obligations to Twitter and its stockholders because the deal he signed no longer serves his pers…
SAN FRANCISCO — Twitter said Tuesday it has sued Elon Musk to force him to complete the $44 billion acquisition of the social media company.
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.” “Having mounted a public spectacle to put Twitter in play, and having proposed and then signed a seller-friendly merger agreement, 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,” the suit says.
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