Musk originally planned to acquire Twitter for $44 billion. As a result, the two sides quarreled over the issue of fake accounts, and Musk finally announced that he would abandon the acquisition. In a fit of rage, Twitter sued Musk, and Musk did not sit still, and people familiar with the matter said he would counter-sue in the next few days. Although Musk has announced that he is abandoning the acquisition, it is unknown whether he will actually abandon it.
As a result of the counterclaim, a Delaware Chancery Court judge will give Musk’s lawyers more time and authority to gather information about fake Twitter accounts. If it does get into a lengthy lawsuit, Twitter’s stock price could fall, giving Musk more room to negotiate a sale price.
Twitter sued Musk in Delaware a few days ago, arguing that Musk launched the acquisition simply to destroy the company, destroy operations, destroy the value of the stock, and then leave frivolously.
Twitter sued Tesla last Tuesday, giving Musk 20 days to file a counterclaim. Twitter tried to force Musk to close the deal at $54.20 a share, and Musk believed he had the right to end the deal because Twitter failed to provide enough information about the fake account data.
If you like our news and you want to be the first to get notifications of the latest news, then follow us on Twitter and Facebook page and join our Telegram channel. Also, you can follow us on Google News for regular updates.