The CEO of Tesla and SpaceX, Elon Musk, confirmed the purchase of the social network Twitter after a negotiation process that was full of uncertainty and inconvenience.

The acquisition takes place less than 24 hours before the established term that a court had granted the billionaire tycoon to complete the purchase.

“The reason I’m acquiring Twitter is because it’s important for the future of civilization to have a common digital platform where a wide diversity of beliefs can be discussed in a healthy way, without resorting to violence”, Musk said in a statement. letter sent to advertisers.

Formally, the businessman has a deadline to finalize the acquisition until this Friday, October 28, after earlier this month a Delaware court judge decided to postpone the trial so that Musk and Twitter could amicably resolve the dispute that arose between both after the purchase announcement. Otherwise, the lawsuit filed by the platform will be activated against you.

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Source: Grupomultimedio

La entrada The purchase of Twitter by Elon Musk is confirmed apareció primero en Bitfinance.

Tesla founder and CEO Elon Musk filed a confidential counterclaim against Twitter after the company launched legal proceedings to terminate the platform purchase agreement.

The tycoon’s counterclaim will serve to point out that Twitter did not respond when asked about the number of fake accounts that existed on the social network and what was the social network’s way of locating and eliminating them, according to Musk’s legal team.

Likewise, according to various media, it is “likely” that the founder of Tesla affirms that the company changed the number of monetizable daily active users before the agreement between the two parties was finalized, which would have changed the purchase price of the social network.

Musk’s legal team detailed that Twitter would have violated its agreement for several reasons, including that the company had fired two executives and, therefore, had breached the agreement.

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Source: Elespañol

La entrada Elon Musk is now suing Twitter apareció primero en Bitfinance.

Twitter filed a lawsuit in a Delaware state court against billionaire Elon Musk to force Tesla’s founder and CEO to commit to his offer to buy the company after breaking the agreement between the parties.

“Musk apparently believes that he, unlike any other party subject to Delaware contract law, is free to change his mind, wreck the company, disrupt its operations, destroy shareholder value,” the company said.

Twitter shares fell more than 7 % on Monday after Musk confirmed his intention to terminate the contract to purchase the social network. The company accused the billionaire of causing its share price to crash.

As it is, a long court battle is expected to determine whether Twitter can force Musk to close the deal and become its owner, or at least get him to pay the $1 billion break-up fee set out in the original deal.

It must be remembered that Musk and Twitter agreed on this penalty figure to be paid if the parties withdrew from the agreement, although if Twitter intends to force the purchase under the agreed terms, the situation could be complicated for the tycoon.

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Source: ElUniversal

La entrada Twitter filed suit against Elon Musk apareció primero en Bitfinance.