Headline RoundupJuly 12th, 2022

Twitter Sues Elon Musk After He Tries Backing Out of $44 Billion Takeover

Summary from the AllSides News Team

Twitter sued Elon Musk on Tuesday after he tried to back out of his $44 billion deal to acquire the company.

The lawsuit was filed in the Delaware Court of Chancery, which specializes in corporate disputes and has a history of preventing companies from walking away from agreements. Twitter claimed that Musk "refuses to honor his obligations to Twitter and its stockholders" because the binding merger agreement he signed "no longer serves his personal interests." The court will determine whether the Tesla CEO must follow through with the purchase or whether Twitter had unjustifiably rejected Musk's requests for data on how the platform measures what percentage of its users are spam bots. Twitter is asking the court for an expedited four-day trial this September. 

Outlets across the spectrum highlighted legal experts who said the outcome of the case "could be unpredictable."

Featured Coverage of this Story

More headline roundups

More News about Technology from the Left, Center and Right

From the Left

From the Center

From the Right