Twitter keeps its promise to continue Elon Musk for backing out of what they say is his promise to buy the platform — and they want a judge to force him to follow through.
In the lawsuit, Twitter says it’s clear Elon is only backing down because the stock market crashed right after he signed the deal in April to purchase for 44 billion dollars. The company says the drop slashed Musk’s wealth by $100 billion and Twitter’s value also plummeted…making its bid even more above the company’s market value.
Translation: His offer suddenly seemed ridiculous, and that’s the only reason he wanted out.
According to the lawsuit, Twitter isn’t buying its excuse that the platform is riddled with bot accounts… calling it a “pattern of hypocrisy.” As Twitter says… Elon had stated very publicly that one of the reasons he wanted to buy Twitter was to “beat spambots”.
Bottom line for Twitter…Musk signed on the dotted line, so he should have to pony up. He asks the court to force him to close the deal at the agreed price of (GULP)…$44 billion.
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