Last week the founder of Tesla announced that he would break the contract with the social network. Prior to the legal battle, Musk and Twitter agreed to a $1 billion penalty to be paid by any party that backed out of the deal.
Euskaraz irakurri: Twitterrek Musk salatu du enpresaren erosketarekin aurrera jarai dezan
Twitter sued billionaire Elon Musk on Tuesday in a US court to force him to buy the company. The complaint comes after Musk notified last Friday of his intention to break the agreement with the social network.
In the exposed complaint, Twitter accuses Musk of “criticizing the company, disrupting its operations, and destroying shareholder value.” In addition, from Twitter they assure that Musk “has disqualified the pact, creating a business risk.”
Before the legal battle, Musk and Twitter agreed to a $1 billion penalty to be paid by any party that backed out of the deal.although if Twitter intends to force the purchase under the agreed terms, the situation could be complicated for the tycoon.
Twitter shares fell more than 7 percent on Monday after Musk confirmed his intention to terminate the purchase contract of the social network. The company accused the billionaire on Tuesday of causing its share price to plummet. Twitter is currently trading below $35, a far cry from the $54.20 per share that Musk agreed to pay.
Source: Eitb
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