Elon Musk is known for being a guy who says what’s on his mind. Unlike a lot of other top corporate executives, he has an open, if not controversial, dialogue with clients and the general public. As such, this may have created long-term problems between Elon Musk and Twitter earlier this year after Musk’s efforts to buy the company for more than $40 billion. Elon Musk has been known to scratch the beehive as it were and there was no exception to his handling of the Twitter takeover. This is likely to cause him some trouble as he recently announced that he is backing away from his agreement with Twitter to acquire the company. Now that Twitter has filed a lawsuit, we’re getting a lot of information about the details of the deal and the social media company’s position on the matter
According to a lawsuit filed by Twitter, Elon Musk “repeatedly underestimated” Twitter or its employees at least 16 times. According to Twitter, this violates a clause in the agreement that states that Musk can talk about the deal “as long as these tweets do not detract from the company or any of its representatives.” Several examples were given in the lawsuit, including the infamous tweet where Elon Musk used a junk emoji in response to a thread from Twitter CEO Parag Agrawal about Twitter spam. Elon Musk suggested that the amount of spam accounts and bots had a huge impact on how he handled the acquisition, but the social media company hit back by saying it was an excuse to walk out of the deal because recent market conditions might make the deal. less ideal for him.
Since signing the merger agreement, Musk has repeatedly underestimated Twitter and the deal, creating business risk for Twitter and downward pressure on its share price. The company’s lawsuit claimed.
As of now, no trial date has been set, but Twitter is hoping for an expedited trial in September. In a recent company-wide note, Twitter also stated that it plans to hold Elon Musk accountable. As of now, it remains to be seen how well that works, but Twitter appears to be building a pretty big case against Musk by diving deep into his social media profile.
What do you think of the Twitter suit? Let me know in the comments or hit me up on TwitterCade_Onder.
[H/T Variety]
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