On July 12, Twitter Inc. sued Tesla boss, billionaire Elon Musk in Delaware state court, accusing him of violating a $ 44 billion agreement between the two parties related to the process of acquiring the platform. this social networking platform. Twitter Inc also asked the court to order the billionaire to complete the purchase and sale agreement at the agreed price of $54.2 per share.



In the lawsuit, Twitter alleges Musk's disregard for Delaware business law, freedom to change his mind, harm to the company, disrupt operations, and destroy shareholder value.

Twitter also accused Musk of "secretly" acquiring shares of the company between January and March without making his substantial purchases public with regulators.

Closing the trading session on July 12 on the New York market, Twitter shares were priced at 34.06 USD, up 4.3% compared to the previous session, but much lower than the level above 50 USD in the time when the two sides reached a purchase and sale agreement at the end of April 2022.

Meanwhile, billionaire Musk used the reason that Twitter did not publicize information about fake accounts and spam accounts at his request, to cancel this purchase agreement. On July 8, Mr. Musk officially announced the end of the plan to buy Twitter.

The lawsuit is expected to become the largest legal battle in Wall Street history involving one of the most diverse businesses in the business world.