Elon Musk has been sighted vacationing in Mykonos, a Greek island, with friends amid Twitter suing him for backing out of a $44 billion deal to purchase the platform.
Musk who had a week ago announced his withdrawal from the Twitter purchase deal was seen in the company of a famous friend, Ari Emanuel, CEO of William Morris Endeavor, the second richest man in Hollywood.
From the looks of it, the billionaire CEO of Tesla doesn’t seem to be worried about dropping his ambition to acquire the microblogging platform nor about the lawsuit that the Twitter board has instituted.
Why Twitter is suing Elon Musk
- On July 8, Musk terminated the deal and as a result, Twitter shares experienced a fall so the company hired a US law firm to take legal action against Musk, launching a lawsuit against him in the Chancery Court of Delaware on July 12.
- Musk claimed that Twitter was not forthcoming with information about how many spam and fake accounts were on the website.
- Twitter claims in its lawsuit that Mr Musk started out saying he wanted to buy Twitter to rid it of “crypto scam” he viewed as “major blight on the user experience”, and take it private because purging spam would otherwise be commercially impractical.
- Twitter chairman, Bret Taylor also said the lawsuit was filed to hold Mr Musk “accountable to his contractual obligations.”
The possible outcome of the lawsuit
- Legal experts say Twitter has a strong case, but the coming court battle could be long and contentious and the outcome uncertain.
- However, the legal battle will be ugly and prolonged, affecting both parties involved, no matter who comes up victorious. The arguments on and off Twitter from both parties have been going on for weeks since Musk backed out of the deal.
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