Elon Musk recently decided to try and back out of his deal to buy Twitter. The social media giant responded with a lawsuit against the billionaire to force the sale to go through. Now, the social media giant is being called out for allegedly violating the purchase agreement after a series of disparaging tweets.
Musk has tweeted negatively about Twitter at least 16 times since the deal was announced. According to Variety, the company believes musk violated a provision of his merger agreement. There is a stipulation that says that Elon Musk is not allowed to tweet disparaging comments about Twitter.
In their lawsuit, lawyers for Twitter said that they believe Elon Musk’s entire effort to buy the company has been a joke. It is ironic since Musk was investigated by the SEC for tweets in the past. He was accused of committing securities fraud by using the platform to announce a funding agreement for a private takeover of Tesla.
Elon Musk settled that suit out of court. He agreed to pay $40 million in penalties but did not admit any guilt. Now, the SEC is investigating whether Elon Musk didn’t properly update a disclosure filing after tweeting that the deal cannot move forward without additional information on the number of active users vs bots on the site.
Musk has been extremely public about his takes on Twitter. He believes the company has a liberal bias. Elon, who previously presented as politically neutral, has been on a tear of right-wing posts since suddenly declaring himself a Republican.
The legal battle between Twitter and Elon Musk will continue in the court system. Musk taking the fight to Twitter might be hurting his cause. Time will tell if the legal process forces Elon to go through with his purchase, but for now, he is keeping up with his war of words.
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