Update: Twitter Sues Elon Musk For Trying To Bail On $44 Billion Deal

Twitter Sues Musk (Photo: Nick_ Raille_07 / Shutterstock.com)

YAHOO is reporting that TWITTER has made good on it's promise to sue ELON MUSK for trying to bail on the $44 Billion deal he previously agreed to (NET NEWS 7/11). According to reports, TWITTER filed a lawsuit in DELAWARE CHANCERY Court TODAY (7/12) asking for one of its chancellors to compel MUSK to buy the company, as he promised in his APRIL 25th merger agreement. 

TWITTER's suit claims: “Having mounted a public spectacle to put TWITTER in play, and having proposed and then signed a seller-friendly merger agreement, MUSK apparently believes that he — unlike every other party subject to DELAWARE contract law — is free to change his mind, trash the company, disrupt its operations, destroy stockholder value, and walk away."

Musk has alleged that TWITTER breached multiple terms of their agreement by holding back data that would allow him to independently assess the number of fake accounts on the platform — something MUSK says is fundamental to its business and financial performance, and needed to facilitate MUSK's financing and financial planning for the transaction.

TWITTER alleges in its lawsuit that Musk is simply grasping "for an out." Click here to read more about the ongoing battle. 

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