The micro-blogging website has announced a legal battle with Tesla for terminating the acquisition deal.
The CEO of Tesla had an agreement with Twitter in April to acquire the shares for USD 54.20 per share, which was terminated in a letter sent to the company last week.
Twitter filed a lawsuit against Musk in the Delaware’s court of Chancery on Tuesday, calling him a “hypocrite.”
Twitter has stated, “Twitter brings this action to enjoin Musk from further breaches; to compel Musk to fulfil his legal obligations; and to compel consummation of the merger upon satisfaction of the few outstanding conditions.”
Tesla’s team has claimed the termination to be reasonable on grounds of breach of agreement. Earlier in June, Elon accused the social media company of not disclosing the data of fake accounts and bots he had asked for. The microblogging website has been condemned by Musk blatantly for not displaying the data.
He posted pictures of himself laughing along with texts, “They said I couldn’t buy Twitter. Then they wouldn’t disclose bot information. Now they want to force me to buy Twitter in court. Now they have to disclose bot information in court.”
The news of the legal battle started pouring on the internet, while Musk tweeted, “Oh the irony lol.” Although the tweet did not mention the lawsuit, its context is quite evident to the netizens.
Twitter’s lawyer has also alleged Mr. Musk of violating the agreement “knowingly, intentionally, willfully, and materially breached”.
Twitter has also proclaimed that Mr. Musk, who is also the owner of automobile company Tesla, has called off the deal because of the changes in the stock market, which have impacted his wealth. (Tesla’s shares have fallen in recent months.)
Twitter claimed that Musk is using the bot issue as an excuse to scrap the deal.
