Twitter is suing Dogecoin fan Elon Musk for abandoning its $44 billion takeover decision. For this purpose, he hired Wachtell, Lipton, Rosen & Katz, according to Bloomberg. The social media company is aiming to file a lawsuit earlier this week, according to unidentified people. Here are the details…
Lawsuit against Dogecoin fan Elon Musk
Twitter, the social media platform, is reportedly considering suing Tesla’s CEO Elon Musk earlier this week. cryptocoin.com As we also reported, Musk announced his plan to withdraw from the $44 billion deal to acquire Twitter on July 8. The firm has hired the legal services of corporate law firm Wachtell, Lipton, Rosen & Katz, according to a report by Bloomberg on July 10. He plans to take the matter to the Delaware Chancery Court, which is an outlaw.
Earlier, the law firm representing Tesla’s CEO sent a letter to Twitter, saying that when Musk agreed to take over the business on April 25, Twitter made false and misleading promises and violated several clauses of the agreement. The letter was sent in response to Twitter’s denial of the allegations. Concerns have been raised by the Musk team about spam bots on the platform. The crypto-enthusiast was threatening to terminate the deal unless the firm could show that less than 5 percent of its daily active users were spambots.
What do users in the crypto space think of Musk’s decision?
Musk’s move away from owning Twitter has made the crypto community unhappy, which generally supports the network’s intentions to remove all spam and fraudulent bot accounts from the microblogging platform. Musk said that one of his main plans is to remove all spam and fraudulent bot accounts from Twitter.
In a regulatory filing after the official market closed on Friday, Musk announced that the company plans to walk away from its $54.20 share offer to buy Twitter, alleging it misrepresents user data. Twitter Head Bret Taylor responded by promising to enforce the deal, promising it would be a tough court fight. Twitter shares closed at $ 36.81, down 5.1 percent in official transactions. It fell another 4.8 percent in post-market activity to about $35.
Contact us to be instantly informed about the last minute developments. twitter‘in, Facebookin and InstagramFollow and Telegram and YouTube join our channel!
Disclaimer: The articles and articles on Kriptokoin.com do not constitute investment advice. Cryptokoin.com does not recommend buying or selling any cryptocurrencies or digital assets, nor is Kriptokoin.com an investment advisor. For this reason, Kriptokoin.com and the authors of the articles on the site cannot be held responsible for your investment decisions. Readers should do their own research before taking any action regarding the company, asset or service in this article.
Warning: Citing the news content of Kriptokoin.com and quoting by giving a link is subject to the permission of Kriptokoin.com. No content on the site can be copied, reproduced or published on any platform without permission. Legal action will be taken against those who use the code, design, text, graphics and all other content of Kriptokoin.com in violation of intellectual property law and relevant legislation.