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Twitter's Lawyers: Musk's Termination of Deal 'Invalid and 'Wrongful'

Twitter's Lawyers: Musk's Termination of Deal 'Invalid and 'Wrongful'
Tweets by Elon Musk are shown on a computer April 25, 2022 in Chicago, Illinois. (Illustration by Scott Olson/Getty Images)

By    |   Monday, 11 July 2022 07:47 PM EDT

Twitter’s lawyers fired back at Elon Musk Monday, saying, in an email to Musk’s attorneys, that the “purported termination” of the tech billionaire’s deal to acquire the social media platform is “invalid and wrongful.”

According to the email, “contrary to the assertions” made by Musk’s side, “Twitter has breached none of its obligations” and scuttling the deal “constitutes a repudiation of … obligations under the agreement.”

“The Agreement is not terminated, the Bank Debt Commitment Letter and the Equity Commitment Letter remain in effect, and Twitter demands that Mr. Musk and the other Musk Parties comply with their obligations under the Agreement,” the email read.

Musk's claims of numerous unverified fake Twitter accounts, used to end his takeover of the company, were a ruse to secretly sell expiring Tesla options, some Twitter influencers suggested on Monday.

Complaining that his team could not determine the amount of fake accounts on the platform, the Tesla and SpaceX CEO sent a letter to Twitter’s board on Friday, saying he was terminating the $44-billion deal to purchase the platform.

While both sides suited up for a drawn out battle in court, some prominent Twitter users proposed a different reason for Musk’s backing out of the deal.

"Entire thing was a clever ruse to sell + liquidate $8.5 billion of Tesla Stock (w/plausible excuse for doing it)," Josh Wolfe, co-founder of Lux Capital, tweeted Friday after the announcement.

According to Wolfe’s tweet math, Musk would be left with $7.5 billion in liquidated stock after paying the $1 billion breakup fee.

"Honestly think he can 'land rockets' but can't fix 'bots'?" Wolfe asked rhetorically.

Late Sunday night, Musk tweeted a meme of himself laughing at the company's plans to sue him and force him to finish his acquisition of the company.

In the meme, four different images of Musk laughing are shown, along with captions that eventually explain that Twitter will be forced to disclose information about the number of fake accounts on its site if the Big Tech company sues him.

"They said I couldn't buy Twitter,” Musk captioned the post. “Then they wouldn't disclose bot info. Now they want to force me to buy Twitter in court. Now they have to disclose bot info in court.”

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Newsfront
Twitter's lawyers fired back at Elon Musk Monday, saying, in an email to Musk's attorneys, that the "purported termination" of the tech billionaire's deal to acquire the social media platform is "invalid and wrongful."
twitter, elon musk, fake accounts, legal action
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2022-47-11
Monday, 11 July 2022 07:47 PM
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