Business magnate Elon Musk is always in the mood for a joke even though he finds himself in the middle of a legal battle over the takeover of Twitter. In fact, he said that Tesla and Twitter will be ” Twizzlers but he quickly added that it was just a joke. In addition, the case between Twitter and Elon Musk will be held from October 17 to October 21 in the Court of Judge Kathaleen McCormick, an expert in business law.
Note that in April, the businessman announced his intention to buy the social network for 44 billion dollars but ended up withdrawing in early July. He said the change was because Twitter lied about the number of malicious and spammy accounts on its platform.
Why did Twitter take Elon Musk to court?
Twitter filed its lawsuit in Delaware court on July 12. It claimed that Elon Musk was refusing to honor his obligations under the terms agreed in late April regarding the acquisition of Twitter. The contract was for him to take over social media for a total of 44 billion dollars. The platform’s lawyers did not mince words when they said that Musk wants to break the contract because it no longer serves him.
They accuse Elon Musk of a long list of violations of their agreement and even of dumping the company and destroying the value of the stock. Indeed, following the announcement of this takeover, Twitter’s revenue dropped significantly. It recorded a net loss of $270 million in the second quarter of 2022.
Elon Musk launched a counter suit
On Friday, the Tesla boss responded by launching a lawsuit against Twitter in the same court. The details of this complaint have not yet been disclosed but we only know that it was filed in a 164-page document. However, the details may be released soon.
Note that Twitter has denied hiding information about fake accounts and spam from Musk. His lawyers said he had not read the summary the company gave him of how it calculated the number of “robots”. The legal battle promises to be turbulent!