TWITTER’s Legal Team Plans to File a Lawsuit Against Elon Musk for Abandoning Deal

Elon Musk Says The New Twitter Hexagonal NFT Profile Picture Feature is Annoying
Elon Musk Says The New Twitter Hexagonal NFT Profile Picture Feature is Annoying

According to rumors, Twitter, a social media website, is considering suing Tesla CEO Elon Musk as soon as this week. On July 8, Musk announced his intention to back out of the $44 billion acquisition of Twitter.

Bloomberg reported on July 10th that the corporation has retained the corporate law firm Wachtell, Lipton, Rosen & Katz and intends to take the case before the Delaware Court of Chancery, a non-jury trial court in the state of Delaware that handles matters relating to corporate law.

Earlier, the legal team that represents Tesla’s CEO sent a letter to Twitter claiming that several terms of the original agreement had been broken and that it appeared Twitter had made false and misleading promises when Musk agreed to buy the company on April 25. The letter was delivered in response to Twitter’s denial of the accusations.

Read also: Elon Musk Says He Never Asked Anyone to “Invest In Crypto” Amid Ongoing $258B Dogecoin Lawsuit

Musk’s team has expressed concerns about spam bots on the platform, and the cryptocurrency enthusiast has long threatened to break the agreement if the company cannot show that fewer than 5% of its daily active users are spam bots.

Crypto Twitter Disagrees With Elon’s Choice

Musk’s decision to sell his stake in Twitter has generally angered the network’s cryptocurrency community, which supported his plans to remove all spam and scam bot accounts from the microblogging service. According to Musk, one of his main goals is to get rid of all spam and con artist bot accounts from Twitter.

Related article: Elon Musk Slams Dogecoin Co-Creator Jackson Palmer, Praises Billy Marcus

According to a survey conducted on July 8 by the cryptocurrency trading platform OKX, 38.8% of participants thought that if Elon Musk gave up on his mission, the rise of spam bots would be bad for Crypto Twitter. However, most respondents, or 40.4 percent, claimed not to care.