Elon Musk To Countersue Twitter To Ditch The $44B Buyout Deal

Tesla and SpaceX CEO Elon Musk plans to file a countersuit against Twitter to ditch the deal of buying the social media company for $44 billion. Elon Musk Plans to Countersue Twitter According to a new report from the New York Post citing sources close to the case, the purpose of the countersuit was to push a Delaware Court of Chancery judge to grant Musk’s legal team more time to gather information about Twitter bots. Musk argued that Twitter did not portray the number of spam/scam accounts in a recent 10-K filing and ultimately decided to pull out of the deal. Consequently, this caused Twitter to file a lawsuit last Tuesday, “Musk apparently believes that he unlike every other party subject to Delaware contract law is free to change his mind, trash the company, disrupt its operations, destroy stockholder value, and walk away.” Twitter wants the court to force Musk to purchase Twitter at the agreed-upon price of $54.20 per share, while Musk argues that he’s allowed to terminate the deal because Twitter has not been truthful regarding the number of bot/fake accounts on the platform. The first hearing in Twitter’s suit is scheduled for Tuesday when Delaware Court of Chancery chancellor Kathaleen McCormick is expected to weigh in on Twitter’s request for an expedited trial. While Twitter is pushing for a four-day trial starting in September, Musk wants it to open no earlier than February 2023.The post Elon Musk To Countersue Twi...