Twitter Inc. filed a lawsuit against Elon Musk after the tech billionaire opted to pull out of the $44 billion deal to purchase the social media firm.
The San Francisco-based company, which last week threatened to sue Musk over the deal, filed the lawsuit in the Delaware Chancery Court. The court specializes in corporate disputes.
“Rather than bear the cost of the market downturn, as the merger agreement requires, Musk wants to shift it to Twitter’s stockholders,” Twitter’s lawyers wrote on Tuesday. “Since signing the merger agreement,” the suit alleged, “Musk has repeatedly disparaged Twitter and the deal, creating business risk for Twitter and downward pressure on its share price.”…