{"id":64311,"date":"2022-07-13T08:32:38","date_gmt":"2022-07-13T05:32:38","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=64311"},"modified":"2025-09-06T13:46:04","modified_gmt":"2025-09-06T10:46:04","slug":"twitter-sues-elon-musk-over-termination-of-44-billion-deal-to-buy-the-social-network","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/twitter-sues-elon-musk-over-termination-of-44-billion-deal-to-buy-the-social-network\/","title":{"rendered":"Twitter sues Elon Musk over termination of $44 billion deal to buy the social network"},"content":{"rendered":"<p>Twitter filed a <a href=\\\"https:\/\/www.documentcloud.org\/documents\/22084453-twittermuskcomplaint\\\">lawsuit<\/a> against Elon Musk over his decision to back out of the deal to purchase the social network for $44 billion.<\/p>\n<p>\\n\\n\\n<\/p>\n<p>The platform intends to compel the Tesla chief to fulfil his obligations and close the purchase. The document says the entrepreneur \\&#8221;staged a show\\&#8221; and acted in bad faith:<\/p>\n<p>\\n\\n\\n<\/p>\n<blockquote class=\\\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\\\">\n<p>\\&#8221;Musk, apparently, believes that he [\u2026] can back out, disrupt the company&#8217;s operations, destroy shareholder value and walk away.\\&#8221;<\/p>\n<\/blockquote>\n<p>\\n\\n\\n<\/p>\n<p>Before the formal filing of the suit, Twitter&#8217;s lawyers <a href=\\\"https:\/\/www.theblock.co\/post\/156996\/twitter-declares-musk-deal-termination-bid-invalid-in-new-letter?utm%5C_source=cryptopanic&#038;utm%5C_medium=rss\\\">called<\/a> the termination of the deal unlawful.<\/p>\n<p>\\n\\n\\n<\/p>\n<p>The social network filed the suit in the Delaware Court of Chancery and requested an expedited hearing.<\/p>\n<p>\\n\\n\\n<\/p>\n<p>In April, Elon Musk <a href=\"https:\/\/u1f987.com\/en\/news\/elon-musk-acquires-9-2-stake-in-twitter\">acquired 9.2% of Twitter&#8217;s shares<\/a>, and later <a href=\"https:\/\/u1f987.com\/en\/news\/elon-musk-proposes-over-43-billion-to-buy-twitter\">proposed to buy the company<\/a> at $54.2 per share. The social network&#8217;s management <a href=\"https:\/\/u1f987.com\/en\/news\/elon-musk-to-buy-twitter-for-44-billion-as-dogecoin-jumps-24\">agreed<\/a> to the terms.<\/p>\n<p>\\n\\n\\n<\/p>\n<p>The entrepreneur said the move was driven by a desire <a href=\"https:\/\/u1f987.com\/en\/news\/elon-musk-explains-why-he-wants-to-buy-twitter\">to create &#8216;an inclusive arena for freedom of speech&#8217;<\/a>.<\/p>\n<p>\\n\\n\\n<\/p>\n<p>But in May, Musk <a href=\"https:\/\/u1f987.com\/en\/news\/elon-musk-halts-twitter-acquisition\">halted the purchase process<\/a> after reports that the social network&#8217;s user metrics were overstated. Following this, Twitter&#8217;s shareholders filed suit over the &#8216;chaotic process&#8217; of the takeover, accusing the Tesla chief of <a href=\"https:\/\/u1f987.com\/en\/news\/twitter-shareholders-sue-elon-musk-over-market-manipulation\">market manipulation<\/a>. <\/p>\n<p>\\n\\n\\n<\/p>\n<p>In July, Musk <a href=\"https:\/\/u1f987.com\/en\/news\/elon-musk-terminates-deal-to-buy-twitter\">announced the termination of the agreement<\/a> to acquire the social network.<\/p>\n<p>\\n\\n\\n<\/p>\n<p>Read ForkLog&#8217;s Bitcoin news in our <a href=\\\"\/\/telegram.me\/forklog\\\" target=\\\"\u201c_blank\u201d\\\" rel=\\\"\u201cnofollow\u201d noopener\\\">Telegram<\/a> \u2014 cryptocurrency news, prices and analysis.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Twitter has filed a lawsuit against Elon Musk over his decision to back out of the $44 billion deal to buy the social network.<\/p>\n","protected":false},"author":1,"featured_media":64312,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1162,1217,40],"class_list":["post-64311","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-court-cases","tag-elon-musk","tag-twitter"],"aioseo_notices":[],"amp_enabled":true,"views":"18","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/64311","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=64311"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/64311\/revisions"}],"predecessor-version":[{"id":64313,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/64311\/revisions\/64313"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/64312"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=64311"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=64311"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=64311"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}