Twitter has filed a lawsuit against Elon Musk over his refusal to buy the social network for $44 billion.
The platform intends to force the head of Tesla to fulfill obligations and complete the purchase. The document says that the entrepreneur “made a show” and behaved in bad faith:
“Musk appears to think he […] could change his mind, disrupt the company, destroy shareholder value, and leave.”
Before the lawsuit was officially filed, Twitter's lawyers called the termination of the deal illegal.
The social network filed a lawsuit in the Delaware Court of Chancery and asked for an expedited review of the case.
Recall that in April, Elon Musk acquired a 9.2% stake in Twitter, and later offered to buy the company at a price of $54.2 per share. The management of the social network agreed to the terms.
The entrepreneur explained the initiative with the desire to create an "inclusive arena for freedom of speech."
However, in May, Musk put the purchase process on hold.after reports of overestimation of the audience of the social network. After that, Twitter shareholders sued because of the "chaotic process" of the takeover of the company, accusing the head of Tesla of manipulating the market.
In July, Musk announced the termination of the agreement to acquire the social network.
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