August 10, 2022
Elon Musk has recently been accused of interacting with Twitter accounts.

Elon Musk has recently been accused of interacting with Twitter accounts.

Twitter sues Elon Musk after deciding to back out of $44 billion acquisition deal

Washington:

Amid the ongoing court battle against Twitter, Tesla CEO Elon Musk said that “interactions with almost all Twitter accounts seem to be very recent lately.” Musk wrote on Twitter on Thursday, “There has been little interaction with almost all Twitter accounts in recent weeks and days. Exactly?”

In another tweet, Musk said, “Tesla+Twitter->Twizzler.”

There were many comments on Musk’s tweet.

One user wrote, ‘True.

However, there is one user who mocked Musk’s tweet, saying, “No, Elon. We’re actively ignoring you. Plus, are you so vain that you measure your life in degrees of Twitter interaction? ?”

A few days ago, the microblogging site filed suit against Musk after he decided to back out of a $44 billion acquisition deal.

Twitter filed a motion to expedite the proceedings and requested a four-day trial in September. Musk’s legal team opposed the proposal.

The social media site wrote in the lawsuit, “Twitter brings this action to link Musk to further breaches to compel Musk to fulfill his legal obligations and to terminate the merger upon satisfaction of certain outstanding conditions.” Is.” The lawsuit marks the start of a protracted legal battle as Twitter seeks to hold Musk over its deal to pay $54.20 per share for the company.

Twitter, which is being scuttled by M&A powerhouse law firm Wachtel, Lipton, Rosen & Katz, alleged that Musk sought to avoid deals that required “material adverse effects” or breaches of contract. .

“Musk had to try to seduce one of them,” the lawsuit states. Musk announced the termination of the $44 billion Twitter buyout deal in early July in a letter sent to Twitter by Musk’s team.

Musk decided to postpone the deal due to multiple breaches of the purchase agreement. In April, Musk entered into an acquisition agreement with Twitter at $54.20 per share in a transaction of approximately $44 billion. However, Musk halted the deal in May to allow his team to review the veracity of Twitter’s claim that less than 5 percent of accounts on the platform are bots or spam.

Back in June, Musk openly accused the microblogging website of violating the merger agreement and threatened to shut down the acquisition of the social media company for not providing the data he requested on spam and fake accounts.

Musk alleged that Twitter is “actively opposing and thwarting their information rights”, as outlined by the deal, in a letter CNN sent to Twitter’s head of legal, policy and trust Vijaya Gadde. Referring to.

Musk demanded that Twitter turn over information about its testing methods to back up his claims that bots and fake accounts constitute less than 5 percent of the platform’s active user base, a figure the company has made boilerplate public. Has said consistently over the years in disclosure.

(Except for the title, this story has not been edited by NDTV staff and is published from a syndicated feed.)

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