Washington: In the breaking development in the case, Tesla CEO Elon Musk responded to a lawsuit filed by Twitter against him for breach of contract worth $44 billion, writing ‘Oh the irony lol’. Musk responded quickly after Twitter fined him. Minutes after news of the lawsuit filed by Twitter surfaced online, Musk tweeted on the microblogging site, “Oh the irony lol.”
Twitter sues Elon Musk
Twitter has filed a lawsuit against Tesla CEO Elon Musk to terminate the deal to buy the social media firm on his behalf. The move comes after Tesla CEO Elon Musk terminated a $44 billion acquisition deal.
According to the news of Sputnik, Elon Musk has accused Twitter of hiding the exact number of his fake (bot) accounts and not giving full information requested about it and he has announced to cancel the deal on this basis.
In response, social media platform Twitter said that legal action will be taken against Musk for his decision to terminate the $ 44 billion acquisition deal.
Termination fee to be paid on cancellation of deal
According to the BBC report, according to this deal, if any party cancels it, then it will have to pay a termination fee of $ 1 billion i.e. about Rs 7,904 crore. Twitter has requested the Delaware Court to order Musk to complete the Twitter deal at the same price ($54.20 per share).
In a letter sent to Twitter by Musk’s team last week, Musk announced the termination of the $44 billion Twitter purchase deal. Musk had decided to postpone the deal due to multiple breaches of the purchase agreement.
Musk made fun of Twitter
A few days ago, Musk mocked Twitter for starting a legal battle to force it to buy the company. Musk tweeted four photos of himself laughing, “They said I can’t buy Twitter. Then they won’t disclose bot info. Now they want to force me to buy Twitter in court. Now they have to disclose bot information in court.”