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Twitter Sues Elon Musk

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Twitter filed suit against Elon Musk as a result of the billionaire announcing that he was terminating the $44 billion deal to buy Twitter.

Elon Musk announced in April his plans to buy Twitter for $54.20 per share. The stock was trading at over $34 per share Tuesday. It is over 37% lower than what Musk offered.

“Since signing the merger agreement, Musk has repeatedly disparaged Twitter and the deal, creating business risk for Twitter and downward pressure on its share price,” Twitter said in its suit.

The suit explaines that Musk’s claims about why he wants to terminate the deal including the prevalence of bots on the platform are just a “pretexts.”

Photo: Wikimedia Commons / Caricature Author: Donkey Hotey

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