From CNET: The legal showdown between billionaire Elon Musk and Twitter has officially begun.
On Tuesday, Twitter sued Musk to complete his $44 billion purchase of the social media platform, a move that sets up what will likely be a messy and lengthy court battle. The stakes are high for Twitter as the company deals with fallout from what has been a chaotic relationship with the world's richest man.
In a 62-page lawsuit filed in Delaware's Court of Chancery, Twitter pushed back against several arguments Musk's legal team made when the billionaire told Twitter he no longer planned to buy the company. Twitter accused Musk of breaching the agreement and called his exit strategy a "model of hypocrisy."
The lawsuit notes that Musk's stake in his company Tesla declined by more than $100 billion from its peak in November 2021 and that's the reason why the billionaire wants to back out of the deal.
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