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Twitter Says Won’t Let Elon Musk Go As ‘Dogecoin CEO’ Ends Deal

A major legal battle, involving the crypto community’s favorite social media platform Twitter and Dogecoin (DOGE) advocate, Tesla’s Elon Musk, is underway.

After the serial entrepreneur said he was ending his deal to buy Twitter in a $44 billion deal, the company has vowed to fight back.

The Twitter Board of Directors is committed to closing the transaction at the price and terms agreed with Mr. Musk and plans to pursue legal action to enforce the merger agreement. We are confident that we will.” won the case in Delaware Premier Court,”.

Bret Taylor, Twitter’s president, said, without elaborating

Musk accused the social media giant of violating their agreement and making false statements

In a filing, Musk said he sought the data and information needed to “make an independent assessment of the prevalence of fake or spam accounts on Twitter’s platform.”

However, according to the star businessman, “Twitter has failed or refused to provide this information.”

Sometimes Twitter has ignored Mr. Musk’s requests, sometimes it has denied them for seemingly unwarranted reasons, and sometimes it has claimed compliance while providing Mr. Musk with incomplete information or unusable,” according to the filing.

Meanwhile, according to Reuters, Twitter has a strong legal case against Musk.

The courts in Delaware have set a high standard for acquirers being allowed to forgo their deals, but target companies often choose the certainty of a renegotiated deal at a low price. or financial compensation rather than a messy court battle that could drag on for months, according to Reuters. cites three corporate law professors.

If it goes to court, Musk has a duty to prove more likely than not, that the spam account number is not only false, but so false that it will significantly affect future Twitter earnings.“.

Ann Lipton, associates. dean of research at Tulane Law School, was quoted as saying