Twitter has filed a lawsuit against billionaire Elon Musk for withdrawing his $64 billion offer to buy the social media giant and lashed the 51-year-old's exit strategy as a 'model of hypocrisy' and 'bad faith'.
to the court Twitter claimed Mr Musk had withdrawn from the deal because it “no longer serves his personal interests”.
“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.” Twitter also claimed Mr Musk’s exit strategy was a “model of hypocrisy” and a “model of bad faith” because he had suddenly demanded verification about spam bots when the market value fell and tried to show it had made “material misrepresentations about its business” to investors.
The filing claimed the Merger Agreement required Twitter to provide all data and information that Mr Musk requested but said the social media platform failed to do so.
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