Twitter Threatens To Sue Elon Musk After He Attempts To Axe Purchase Deal
Earlier this year, word of Elon Musk buying Twitter caused a buzz all over the world – drawing some people in with the promise of free speech on the platform, and pushing others away due to the billionaire’s past antics. As plenty predicted, though, the potential deal seems to be falling apart after the Tesla CEO sent a letter to the board today (July 8) stating his intent to terminate the acquisition.
Musk and his legal team feel as though Twitter allegedly “didn’t hand over business information that [he] has requested” though it remains unclear exactly what the father of nine was looking for.
In the past, the 51-year-old has shared posts about waiting on information about spam accounts before a deal could be reached. “Twitter deal temporarily on hold pending details supporting calculation that spam/fake accounts do indeed represent less than 5% of users,” he wrote in May.
At the end of that same month, we reported about Musk attempting to lower the agreed-upon $44B price tag, which inevitably got him sued by the company’s shareholders. In June, he accused the platform of breaching their acquisition deal over bot accounts, and now, a month later, it appears that things have finally reached their breaking point.