Legal counsel for Twitter has responded to Elon Musk’s effort to pull out of his $44 billion takeover of the firm by issuing a series of threats. Following Musk’s formal notification of his intent to terminate the agreement on Friday, the corporation announced that it was prepared to pursue legal action against Musk. Twitter now goes further in a new SEC filing by labeling Musk’s actions as “invalid and unlawful.”
When asked about the prevalence of bots and phony accounts on the site, Musk, and his attorneys have previously accused the corporation of making “false and misleading” claims. The authors asserted, without providing evidence, that the actual number of bots is likely much greater.
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Now, Twitter’s legal team has replied to the allegations. Twitter has denied that it has broken its end of the deal in a letter that it has sent to Musk’s legal representatives. In point of fact, it continues on to assert that Musk himself has “knowingly, purposefully, willingly, and substantially broken the Agreement.”
[Citation needed] It cites, among other conditions, the paragraph that indicates Musk is prohibited from denigrating Twitter or its workers and says that this restriction applies to Musk.
The filing is the most recent piece of evidence suggesting that Twitter is getting ready for what could be a protracted legal battle with Musk. Since the drama with Musk began, the share price of Twitter has taken a hit of several billion dollars, and the board of directors of the firm has said that they intend to sue Musk in an effort to get him to comply with the terms of the agreement.
Even further, the company has engaged the services of a brand-new law firm that concentrates on corporate mergers. However, it is still very much up in the air as to whether or not a court struggle will result in Musk really owning Twitter.