The relationship between Elon Musk, CEO of electric car manufacturer Tesla and rocket manufacturer SpaceX, and Twitter continues to set the agenda. The attempt to buy Twitter for $44 billion did not come true after the painful process. However, it seems that the process will continue on a judicial scale.
Twitter plans to sue Elon Musk in Delaware Chancery Court
Elon Musk has set the agenda again, saying that he has given up taking Twitter in the past days. However, the attitude of the business person in this process seems to initiate a long legal process. According to the information received, Twitter will sue Elon Musk.
Twitter will file a lawsuit in Delaware Chancery Court, alleging that Musk’s termination of the deal was “invalid and unfair.” On the other hand, according to legal experts, the platform has a very strong hand against Musk. In addition, the first case Musk faced in this process is not limited to this.
Elon Musk’s attempt to buy Twitter first started when he bought a 9.2 percent stake. However, his late reporting of this share purchase led the richest man in the world to the lawsuit. The U.S. Securities and Exchange Commission initiated legal action against Musk, saying, “If an investor makes an investment of 5 percent or more in any company, he must publicly disclose.”
With all these events, Musk aspires to the entire platform for $ 44 billion. With the acceptance of the Twitter management, there was no obstacle for the platform to pass to Elon Musk. However, the meeting between Musk and Twitter did not go well after that. After the process, which continued as one step forward and two steps back, Elon Musk terminated the purchase agreement.
It seems that the tension between Musk and Twitter will occupy the agenda in the coming days. What do you think about this subject? Please share your views with us in the comments section.
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