Twitter sues Elon Musk for $44bn transaction

• Twitter sues Elon Musk over $44bn transactions.
• The company wants Musk to honor his agreement to buy the firm. Musk pulled out of the deal on Friday, alleging that Twitter had failed to assess the number of bogus accounts and bots on its network.
•  He pledged to revive the floundering economy and impose a “free speech” culture.

Twitter has asked a Delaware court to force billionaire entrepreneur Elon Musk to honor his $44bn agreement to buy the social media company.

In a complaint filed in Delaware chancery court on Tuesday, Twitter’s attorneys argued that Musk should be compelled to complete the merger at the agreed-upon price of $54.20 per share.

According to the complaint, Musk clearly believes that he is free to change his mind, trash the firm, disrupt its operations, destroy stockholder value, and walk away, unlike every other person subject to Delaware contract law.

“This rejection follows a lengthy list of major contractual violations by Musk that have put a shadow over Twitter and its company,” the statement continued.

This action paves the way for a messy legal dispute between the Silicon Valley business and one of its most prolific and influential users.

Musk revealed his intention to acquire Twitter at the beginning of April, pledging to revive its floundering economy and impose a “free speech” culture.

However, he said on Friday that he would withdraw from the deal, alleging that Twitter had violated the terms of the merger agreement by failing to provide him with sufficient information to assess the number of bogus accounts and bots on its network.