It was only recently that Elon Musk announced he was looking to get out of his agreement to purchase Twitter for $44 billion, a decision that claims to be based on misinformation regarding spam bots that plague the social media platform. Needless to say, as this was an agreement to purchase Twitter, the social media company is seeking legal repercussions for Musk's actions, and a new filed complaint reveals the next step of this movement.
The lawsuit states, "In April 2022, Elon Musk entered into a binding merger agreement with Twitter, promising to use his best efforts to get the deal done. Now, less than three months later, Musk refuses to honor his obligations to Twitter and its stockholders because the deal he signed no longer serves his personal interests."
It continues, "Having mounted a public spectacle to put Twitter in play, and having proposed and then signed a seller-friendly merger agreement, 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."
As for what the lawsuit aims to achieve, that is also mentioned.
"Twitter brings this action to enjoin Musk from further breaches, to compel Musk to fulfill his legal obligations, and to compel consummation of the merger upon satisfaction of the few outstanding conditions."
Following up on the lawsuit, Musk has released a tweet that simply states, "Oh the irony lol".
<social>https://twitter.com/elonmusk/status/1546980241494745100</social>
As for when the trial will begin, Twitter is looking to have that take place in September, with a deadline for the entire proceedings to finish on October 24.