Twitter wants to force Elon Musk to complete his purchase of the company. In a lawsuit, the Tesla billionaire is accused of deliberately wanting to harm Twitter with his actions around the deal. “There are no winners in this soap opera,” says analyst Dan Ives.
In April, Musk announced that he was prepared to buy Twitter for $ 44 billion, equivalent to about SEK 440 billion. But last week, he declared that he wanted to suspend the deal after expressing concern about the large number of spam and fake accounts that are ravaging the social platform.
“Musk refuses to fulfill its obligations to Twitter and its shareholders because the agreement he made no longer serves his personal interests,” the company said in the lawsuit.
Twitter writes that Musk with his actions has deliberately wanted to harm the company and that any fine can not repair the damage he has caused to the social platform.
Expected atmosphere
The mood does not come as a surprise. Already last week, when Musk announced that he wanted to withdraw from the deal, Twitter said that a lawsuit was expected.
“They said I could not buy Twitter. Then they did not want to inform about fake accounts. Now they want to force me to buy Twitter in court. Now they have to inform about fake accounts in court,” Elon Musk tweeted the other day in response to the lawsuit.
Twitter has previously stated that less than five percent of user accounts are fake, but Musk does not believe that the company has succeeded in showing. On the contrary, the social platform has provided misleading information, according to Musk.
“Twitter has done everything in its power to provide Musk with the information he has requested,” the company wrote in the lawsuit.
– On the whole, there have been no winners in this soap opera since it started in April. It has been a hard blow for Musk and has been like a horror movie for Twitter, says Dan Ives, analyst at Wedbush, to AFP.
Twitter vs Musk – several possible outcomes
The lawsuit has been filed in a court in the state of Delaware and the legal soup can end in several different ways, he points out.
– There are a number of possible outcomes that the court in Delaware can come to, including settlement, fines for broken agreements or that the deal is carried out, says Ives.
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