Twitter sued Elon Musk for breaking the purchase agreement

The company Twitter today filed a lawsuit against businessman Elon Musk in the courts of Delaware after he desisted from his agreement to buy that social network for 44,000 million dollars. Twitter said Musk, after signing a binding merger agreement, now “refuses to meet his obligations to the company and its shareholders because the deal he signed no longer serves his personal interests.” Twitter’s lawsuit was expected after the entrepreneur said late last week that he no longer plans to buy the social network because he wasn’t given the information he needed to evaluate the deal. It is worth mentioning that the authorities of the social networks seek to force Musk to comply with his agreement to pay $ 54.20 per share of the company, while the billionaire seeks to be excluded from the agreement due to problems with the negotiation procedure. After putting on a public spectacle to put Twitter on the line, and having proposed and then signed a merger agreement favorable to the seller, Musk apparently believes that he, unlike all other parties subject to Delaware contract law, is free to change his mind, disrupt his operations, destroy shareholder value and withdraw,” the lawsuit states. The agreement had included a provision that if the purchase collapsed, the reneging party would pay a $1 billion termination fee. 

Original source in Spanish