New details are emerging from Twitter’s lawsuit filing against Elon Musk, who announced on Friday he was terminating his $44 billion agreement to purchase the social media company. In legal docs filed in Delaware’s Court of Chancery, Twitter contended it had “bent over backwards” to deliver Elon with all of the information he requested, including how the firm calculates bot and spam accounts.
One of the reasons Elon decided to pull out from the deal was over his concerns that Twitter had provided him with insufficient details after previously saying he suspected there were more than five percent of spam accounts, which the company had vehemently denied. In the lawsuit, however, Twitter stated that they provided Elon with a summary last month, which details the number of bots on the platform, but the tech mogul had admitted to them he never looked at the document.
According to Insider, the legal filing, which firmly aims to force Elon in paying the agreed price to buy Twitter for $44 billion, continues to assert that, “Segal offered to spend time with Musk and review the detailed summary of Twitter’s sampling process as the Twitter team had done with Musk’s advisors. That meeting never occurred despite multiple attempts by Twitter.”
Twitter Accuses Elon Musk Of Damaging Its Value
Twitter also believes that since Elon announced he was stepping away from the deal, he has done nothing but badmouth the company and consequently tanked its stock value after blindsiding the board with his decision to back out last week.
‘Musk refuses to honor his obligations to Twitter and its stockholders because the deal he signed no longer serves his personal interests,” the complaint noted. “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.”
“Twitter has suffered and will continue to suffer irreparable harm as a result of defendants’ breaches.”
Another worry of Elon’s was that Twitter is said to have fired several key members, including two top managers and a third of its talent-acquisition team without his consent. Given that this supposedly happened without his knowledge, Elon firmly believes he has multiple reasons why he should be given the right to terminate the contract.