Elon Musk JUST LOST His First LAWSUIT Against Twitter…
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Elon Musk announced on Tuesday that he was canceling his $44 billion agreement to acquire the business, and on Wednesday, Twitter launched a lawsuit against him in the Delaware Court of Chancery. According to Twitter, Musk entered into a legally binding merger agreement with the company but now “refuses to execute his responsibilities to Twitter and its stockholders because the transaction he signed no longer serves his personal interests,” the company stated. Curious to know more? Stay tuned till the end because this one will definitely shock you!
After Musk announced late last week that he no longer intended to purchase the social network, citing Twitter bots and asserting that the firm didn’t provide him with the information he needed to evaluate the transaction, Twitter’s lawsuit was anticipated. With Twitter attempting to keep Musk to his commitment to pay $54.20 per share for the firm, and Musk attempting to be released from the agreement, the lawsuit, filed on Tuesday, is the beginning of what could be a protracted legal struggle.Legal experts warn that the outcome of the case may be unpredictable and may involve a judge ordering Musk to finish the transaction or to pay a $1 billion breakup fee, among other outcomes like a settlement, revision of the acquisition price, or even Musk walking away without paying anything.
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