Post the fallout of Twitter-Elon Musk $44 billion buyout of the social network deal, Twitter has hit back at Musk saying no obligation has been breached after Musk alleged on Friday that Twitter has failed to provide enough information about the number of fake accounts on its service.
Twitter, the social media company, has now hired Wachtell, Lipton, Rosen & Katz to plan a lawsuit to enforce the merger agreement, Reuters said.
The company has planned to sue Musk to force him to complete the deal, a threat he laughed off on Monday, when he sent a series of tweets joking about Twitter and its threat to enforce the agreement in court.
— Elon Musk (@elonmusk) July 11, 2022
SpaceX owner and Tesla CEO, Elon Musk on Friday ditched his $44 billion buyout of the social network after months of criticizing the firm.
In a letter sent to Musk, dated Sunday and filed with regulators on Monday, Twitter said it had not breached its obligations under the merger agreement as indicated by Musk on Friday, Reuter said.
Twitter said last month that it was making available to Musk a “fire hose” of raw data on hundreds of millions of daily tweets, a PTI report added.
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“Twitter demands that Mr. Musk and the other Musk Parties comply with their obligations under the Agreement, including their obligations to use their respective reasonable best efforts to consummate and make effective the transactions contemplated by the Agreement,” the letter said, Reuters added.
(with Reuters,PTI inputs)