the battle between Twitter Yes Elon Musk continues, although now legally through a request by the social network to the CEO of Tesla. It must be remembered that a few days ago Elon Musk abandoned the purchase contract on the pretext that Twitter did not provide real data on the number of bots. Subsequently, Twitter hired a law office lawyers for the case and, now, has formalized a trial in which asks Elon Musk to buy Twitter.
Elon Musk, the richest man in the world, seems to be in problems (he laughs at the whole thing) because his strategy of abandoning the deal may end up in court. His initial strategy was to play with the situation and that upon canceling the deal he would only have to pay one $1 billion fine. However, Twitter is now suing him for fail in one’s obligations and seek to compel it to finalize the acquisition of the social network at the agreed price of $44 billion.
Twitter is suing Elon Musk to force him to fulfill his part of the agreement
Twitter has filed a lawsuit in the Delaware Court of Chancery to hold Elon Musk liable for his contractual obligations.
— Bret Taylor (@btaylor) July 12, 2022
As we said a few days ago, Twitter has decided to pursue this legal battle in the courts of Delaware. For this, he was responsible for hiring an elite law firm, with veteran members responsible for resolving legal disputes. Among them, highlighted Martin Liptonthe author of the strategy poison pillwhich aims to devalue stocks by increasing their number and making it harder to buy them all.
With that, Twitter finally filed a lawsuit in the Delaware Court of Chancery to force Tesla’s CEO to comply with his legal obligations. In this lawsuit, Elon Musk is required to buy social network Twitter and thus fulfill the agreement they have established. We know this thanks to the tweet published by Brett Taylor, the president of the social network. He further adds that it is for “hold Elon Musk accountable”, to which Musk himself responds with a “Oh the irony lol“.
oh the irony lol
— Elon Musk (@elonmusk) July 12, 2022
We find here the player Elon Musk that we love so much, the one who started with a very generous purchase offer for Twitter, then said to himself that it was better not to buy anything. The excuse used, as we already know, was the real number of bots and fake accounts that were not revealed by the social network. This forced Twitter to defend themselves and say they really had the bot problem under control.
Twitter CEO Parag Agrawal writes dozens of posts about how they handle spam
Let’s talk about spam. And let’s do it with the benefit of data, facts and context…
— Parag Agrawal (@paraga) May 16, 2022
Whether you’re curious or not, the CEO of Twitter, Parag Agrawaldecided to make an effort to explain what spam and how they are treated in this social network. Considering this, our dear Elon Musk appeared and sent him the poo emoji, to sum up that he was not interested or did not think it was true information. Now, this emoji-only reply tweet has been one of the quoted in the lawsuit from Twitter.
With him, many other than memes that Musk was posting this weekend. Apart from that, many threads are included, such as the one in which Elon Musk complained that the CEO and the CFO of twitter will investigate on the state of the funding of the purchase contract. Knowing that said agreement has a deadline of October 24Twitter wants to put Pressure about. Moreover, they expect there to be a judgment alone 4 days a mid-septemberaccording to a petition filed by the company.
Although Twitter seems set to win this legal battle by having lawyers with ties to the Delaware court, Elon Musk has already caused a stir. damage. And this is it, the moral inside twitter rotted enormously since the signing of the purchase contract. According to Twitter’s lawsuit, Musk blocked the compensation programs to retain the best workers in the company, moreover I affirm dismiss to much of the workforce when the business was theirs.
“We take this opportunity to tell our story and stand up for our company, our employees and our shareholders,” Parag Agrawal said in a memo to calm his employees.