Twitter sues Elon Musk to hold him to $44-billion deal

Twitter has sued Elon Musk for violating his $44-billion deal, accusing him of trashing the company, disrupting its operations and destroying shareholder value.

Elon Musk for violating his US$44-billion deal to buy the social media platform and asked a Delaware court to order the world’s richest person to complete the merger at the agreed $54.20 per Twitter share.

The lawsuit sets in motion what promises to be one of the biggest legal showdowns in Wall Street history Twitter also accused Musk of “secretly” accumulating shares in the company between January and March without properly disclosing his substantial purchases to regulators, and said he “instead kept amassing Twitter stock with the market none the wiser”.

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