Elon Musk’s controversial $44 billion Twitter deal is now headed to the courtroom. Twitter filed a lawsuit against Musk on Tuesday in the Delaware Court of Chancery, stating that he’s going back on his word to buy Twitter, and they’re now looking to make him hold up his end of the bargain.
Musk says that the only reason he’s trying to exit the deal is that Twitter couldn’t provide him with enough information about the number of bot accounts and spam on the microblogging style. In typical Elon fashion, the entire thing has turned into a meme fest, with many of them finding their way into Twitter’s official complaint.
CEO Parag Agrawal addressed employee concerns with an internal memo obtained by The New York Times, encouraging everyone to read the lawsuit as they take this opportunity to tell their story and defend the company, its employees and stockholders.
Jokes and memes aside, the lawsuit’s supposed to hold Musk accountable for his deal with the complaint consisting of all communications between Musk and Twitter management over the last couple of months, even reportedly including some texts he sent to Twitter CEO and CFO to get them to stop investigating his financing status for the deal.
Twitter states that it gave Musk access to more data about bots and spam on the platform than they were obliged to under the agreement. Musk’s lawyer wanted access to emails and messages shared between executives on the topic, something Twitter lawyers say is quite unusual considering Musk forego his right to due diligence when he signed up for the deal.
Another thing Twitter is holding Musk accountable for is blocking the company’s attempts to put suitable compensation packages in place to retain its top talent. It’s worth pointing out that Musk publicly stated that he would lay off employees should the deal go through.
The agreement has a deadline of October 24, and Twitter is pushing for a hearing before that. As evident by a separate motion to expedite the trial, the company hopes to go over the trial in four days in mid-September.
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