Daily Management Review

Twitter will sue Elon Musk


Twitter will file a lawsuit after Elon Musk, the richest man on earth, refused to acquire the business.

Daniel Oberhaus
Daniel Oberhaus
The company is requiring him to complete the $44 billion transaction. The contract stipulates that if the businessman decides not to proceed with the transaction, he must pay $1 billion.

Twitter Chairman Bret Taylor stated, "Twitter is committed to concluding the purchase at the price and terms agreed upon with Mr. Musk and plans to file a lawsuit to enforce the merger agreement. The company is sure it will win in the legal action".

Earlier, Elon Musk informed Twitter that he would not be purchasing the business. The businessman's attorneys cited Twitter's refusal to comply with many requests on phony or spam accounts in the social media platform, which they claimed was "essential to the effectiveness of the firm."

source: cnn.com