Getty Images | SOPA Images
Twitter filed its expected lawsuit against Elon Musk today, demanding that he complete the $44 billion purchase of the social network.
“Musk refuses to honor his obligations to Twitter and its stockholders because the deal he signed no longer serves his personal interests,” the lawsuit said. “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.”
The suit accused Musk of “a long list of material contractual breaches by Musk that have cast a pall over Twitter and its business” and asks the court to “compel consummation of the merger upon satisfaction of the few outstanding conditions.”
The lawsuit was filed today in the Delaware Court of Chancery. You can read the whole thing here, and we’ll be adding to this breaking news article as we read Twitter’s complaint.
