MOSCOW (Pakistan Point News / Sputnik - 09th July, 2022) Twitter will file a lawsuit against American billionaire and entrepreneur Elon Musk to force him to buy the social media on the agreed terms, Bret Taylor, Twitter's board chair, said on Saturday.
Musk announced the termination of a $44 billion Twitter purchase deal in a letter sent by Musk's team to Twitter earlier on Saturday. Musk decided to suspend the deal due to multiple breaches of the purchase agreement, including an alleged inability by Twitter to provide the information needed to complete a comprehensive analysis of spam and fake accounts. Musk's team strongly believes that the proportion of spam and fake accounts is "wildly higher" than 5%, according to the letter.
"The Twitter Board is committed to closing the transaction on the price and terms agreed upon with Mr. Musk and plans to pursue legal action to enforce the merger agreement. We are confident we will prevail in the Delaware Court of Chancery," Taylor said in a tweet.
