Elon Musk Pulls Out Of $44 Billion Twitter Deal, Now Faces A Legal Threat

Saturday, 9 July 2022newsdesk

Billionaire Elon Musk pulled the plug on his $44 billion deal to buy Twitter, accusing the company of "misleading" statements about the number of fake accounts.

New Delhi, 09 July 2022

As per news report of NDTV, In a regulatory filing, Elon Musk's lawyers said Twitter had failed to respond to multiple requests for information on fake or spam accounts on the platform, which is fundamental to the company's business performance. Elon Musk also alleged that Twitter breached the agreement when it fired two top managers, without his consent as required by their contract. Twitter's chairman, Bret Taylo, said the board will pursue legal action to enforce the merger agreement. "The Twitter Board is committed to closing the transaction on the price and terms agreed upon with Mr Musk and plans to pursue legal action to enforce the merger agreement," Mr Taylor tweeted.

Source -NDTV