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Twitter Sues ​Elon Musk After He Cancels $44 Billion Deal Over ‘Breach of Provisions’

Twitter Sues ​Elon Musk After He Cancels $44 Billion Deal Over ‘Breach of Provisions’

By Movieguide® Staff

Due to Elon Musk’s recent decision not to pursue the purchase of Twitter, the major social media site filed a lawsuit.

The Tesla and SpaceX CEO initially planned to move forward with a $44 billion deal to acquire Twitter. However, Musk turned his back on the company after he alleged the company breached “multiple provisions” from their initial contract.

However, Twitter intends to proceed with the deal and ensure it in a court of law.

“We are committed to closing the transaction on the price and terms agreed upon with Mr. Musk and plan to pursue legal action to enforce the merger agreement. We are confident we will prevail in the Delaware Court of Chancery,” the Twitter Board told People Magazine.

Musk responded to Twitter’s lawsuit in a meme, ironically posted to his Twitter account.

“They said I couldn’t buy Twitter, Then they wouldn’t disclose bot info, Now they want to force me to buy Twitter in court, Now they have to disclose bot info in court.”

Previously, Musk said in a filing that Twitter failed to provide essential information regarding the platform’s fake accounts.

“Sometimes Twitter has ignored Mr. Musk’s requests, sometimes it has rejected them for reasons that appear to be unjustified, and sometimes it has claimed to comply while giving Mr. Musk incomplete or unusable information,” the filing reads.

Movieguide® previously reported:

As his potential landmark $44 billion acquisition of Twitter looms, Elon Musk said he whalt the deal if Twitter refused to release data about the number of “bot” accounts on the platform.

According to estimates, the number of spam/fake accounts is around 20%, despite Twitter’s report of only 5%.

“20% fake/spam accounts, while 4 times what Twitter claims, could be *much* higher. My offer was based on Twitter’s SEC filings being accurate. Yesterday, Twitter’s CEO publicly refused to show proof of <5%. This deal cannot move forward until he does,” Musk wrote in a recent Tweet.

Musk said that should the deal go through; his priority would be to clear the platform of fake accounts.

Wedbush analyst Daniel Ives said that Twitter’s stock would plummet should Musk withdraw.

“If they do not accept a lower price (after negotiations following the bot issue scrutiny over the coming weeks) for the deal and Musk does actually walk then the stock would likely see a sub $30 level with a broken deal in this shaky market backdrop,” Ives said.

“The bot issue at the end of the day was known by the New York City cab driver and feels more to us like the ‘dog ate the homework’ excuse to bail on the Twitter deal or talk down a lower price,” Ives added.

Now more than ever we’re bombarded by darkness in media, movies, and TV. Movieguide® has fought back for almost 40 years, working within Hollywood to propel uplifting and positive content. We’re proud to say we’ve collaborated with some of the top industry players to influence and redeem entertainment for Jesus. Still, the most influential person in Hollywood is you. The viewer.

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Now more than ever we’re bombarded by darkness in media, movies, and TV. Movieguide® has fought back for almost 40 years, working within Hollywood to propel uplifting and positive content. We’re proud to say we’ve collaborated with some of the top industry players to influence and redeem entertainment for Jesus. Still, the most influential person in Hollywood is you. The viewer.

What you listen to, watch, and read has power. Movieguide® wants to give you the resources to empower the good and the beautiful. But we can’t do it alone. We need your support.

You can make a difference with as little as $7. It takes only a moment. If you can, consider supporting our ministry with a monthly gift. Thank you.

Movieguide® is a 501c3 and all donations are tax deductible.