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Twitter sues Elon Musk, says he can’t “trash the company… and walk away”

Posted on July 12, 2022 by Xordac Prime
In this photo illustration, Elon Musk's official Twitter profile seen on a computer screen through a magnifying glass.

Enlarge (credit: Getty Images | SOPA Images )

Twitter filed its expected lawsuit against Elon Musk today, demanding that he complete the $44 billion purchase of the social network.

“Musk refuses to honor his obligations to Twitter and its stockholders because the deal he signed no longer serves his personal interests,” the lawsuit said. “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 accused Musk of “a long list of material contractual breaches by Musk that have cast a pall over Twitter and its business” and asks the court to “compel consummation of the merger upon satisfaction of the few outstanding conditions.”

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Source: Ars Technica – Twitter sues Elon Musk, says he can’t “trash the company… and walk away”

This entry was posted in Ars Technica, Unfiltered RSS and tagged Ars Technica by Xordac Prime. Bookmark the permalink.
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