Musk’s withdrawal from Twitter deal sets stage for long court battle

Analysis: billionaire could be fined $1bn for walking away – and he risks new lawsuits and even his job, experts say

Elon Musk withdrew his $44bn bid to buy Twitter on Friday after a months-long saga that rankled investors and shook the market, kicking off what may be a long legal battle with the company.

The Twitter chair, Bret Taylor, said on Friday that the social media firm would sue in a Delaware court to enforce the deal. The deal included a “specific performance” clause, a provision that may force Musk to buy the company as long as he has financing in place. Musk in May said he had secured financing to complete the deal.

Continue reading…

Go to the source link

Check Also

Eufy 4G LTE Starlight im Test: LTE-Überwachungskamera mit Akku und Solarmodul

Eufy 4G LTE Starlight im Test: LTE-Überwachungskamera mit Akku und Solarmodul

Eufy bringt mit der 4G LTE Starlight seine erste LTE-Überwachungskamera auf den Markt. Sie bietet …

Leave a Reply

Your email address will not be published.

This site uses Akismet to reduce spam. Learn how your comment data is processed.