TBA Law Blog


Posted by: Kate Prince on Jul 14, 2022

Twitter sued billionaire Elon Musk on Tuesday, asking Delaware’s Court of Chancery to order Musk to complete a $44 billion takeover deal, NPR reports. Musk entered into an agreement to buy Twitter in late April but has since launched a fight with the company over the prevalence of fake accounts, which he claims is higher than Twitter lets on. The lawsuit accuses Musk of hypocrisy and bad faith in breaching his contract with Twitter. It says that after Tesla shares declined in value Musk began to disparage the company and make public requests aimed at making Twitter appear negligent. Musk has 20 days to respond to the complaint, but lawyers for Twitter have proposed an expedited timetable, arguing a delay would hurt the company.