The fight between Elon Musk and Twitter has entered a new chapter.
The news broke recently that, confirming the preliminary guesses, Elon Musk is officially backing out of the $44 billion acquisition of Twitter announced in the spring, citing that the company’s management did not properly inform him on the platform on the proportion of active fake accounts. However, the microblog does not give up and, referring to the signed agreement, announced that will file a lawsuit against Musk to fight the business’s influence. Therefore, the positions of the parties could not be further from each other, because the billionaire who calls out the breach of contract does not even want to pay the $1 billion cancellation fee according to the agreement.Twitter, on the other hand, is determined to fight the court battle, even banning employees from talking about the deal, according to a leaked internal letter. “Twitter’s board of directors is committed to closing the transaction at the price and terms agreed upon with Mr. Musk and plans to take legal action to enforce the merger agreement. We are confident that we will prevail in Delaware court. Since this is an ongoing legal matter, please refrain from tweeting, slacking, or sharing any comments regarding the merger agreement. We will continue to share information as soon as we have the opportunity, but please note that until then we will be very limited in what we can share.” – the company’s chief legal advisor wrote to the employees to The Verge also reached in memo. As soon as the news broke, the members of the newspaper started commenting on the situation practically immediately, the The Verge article, for example, cited two tweets in which the employees joked about the failure of the business. Of course, this is not a surprise, since it is well known that Twitter’s staff was not at all enthusiastic about the acquisition, after Musk announced the adoption of much more relaxed moderation rules, and also kept those involved in uncertainty regarding future downsizing. According to a previous report, the resentment of the employees was so intense that the management thought it better to block the source code of the social site from the employees. Of course, it is impossible to predict how the litigation between Musk and Twitter will end, but what is certain is that we are facing a noisy legal war. Are you more seriously interested in IT? You can find our news and analyzes for IT and infocommunications decision-makers here.