Elon Musk's Attempt to Back Out of his Takeover Deal is Deemed 'Invalid and Wrongful' by Twitter

109
12 Jul 2022
5 min read

News Synopsis

Twitter is refusing to back down from a fight with Elon Musk. Musk's decision last week to walk away from a $44 billion deal to buy Twitter was deemed "invalid and wrongful" by lawyers for the social media platform on Sunday.

In the letter, William Savitt, an attorney for Twitter, wrote, "The purported termination is invalid for the independent reason that Mr. Musk and the other Musk parties have knowingly, intentionally, willfully, and materially breached the agreement."

Musk's lawyers argued in a letter sent Friday that Twitter failed to comply with its contractual obligations to disclose how many fake accounts exist on Twitter's platform and that Twitter ignored or outright refused Musk's requests for information about Twitter's users and business practices.

Twitter's lawyers denied the allegations, saying the company would continue to "provide reasonably requested information by Mr. Musk under the agreement and to diligently take all measures required to close the transaction."

Musk appeared to respond to the letter Monday afternoon, tweeting a screenshot of a character from the video game "Elden Ring" that appeared to indicate he was ready to fight.

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