The hatchet is very far from being buried between Twitter and Elon Musk. The social network seized American justice on Tuesday to force the boss of Tesla to buy it back according to the terms agreed at the end of April, which valued the Californian group at 44 billion dollars.
A judge from a court specializing in business law, in the State of Delaware, will therefore have to determine whether or not the multi-billionaire can terminate the acquisition agreement free of charge. The latter provides for severance pay of one billion dollars, which Elon Musk does not seem to want to settle, as it stands.
“A model of hypocrisy”
“Elon Musk’s exit strategy is a model of hypocrisy” and a “model of bad faith”, believe the platform’s lawyers, who seem determined to fight it out. “After putting on quite a show to make Twitter a target, and after proposing and then signing a merger deal, Musk seems to believe he’s free – unlike any party bound by a contract under the law of the Delaware – to change your mind, defame the company, disrupt its business, destroy its stock value, and wash your hands of it,” they assert in a court document.
The entrepreneur took a stake in Twitter at the start of the year, before announcing his intention to buy the platform, which he considers to be too “censored”, in the interest of democracy. To justify its unilateral decision on Friday to terminate the agreement, its lawyers assured that Twitter had not provided all the information requested on inauthentic accounts active on the network and minimized the number of spam messages.
Musk quips on… Twitter
But for the blue bird, “Musk’s behavior simply confirms that he wanted to get out of a contract he signed freely, and harm Twitter at the same time”. “Oh the irony lol,” reacted Elon Musk on Twitter on Tuesday. The day before, he had posted an image with four photos of himself, hilarious, with this caption: “They said I couldn’t buy Twitter. Then they refused to reveal the information about the fake accounts. Now they want to force me to take over Twitter in court. Now they are forced to reveal information about fake accounts.”
For several months, Elon Musk has been increasing attacks and mockery against the network where he is followed by more than 100 million people. He sharply criticized its content moderation policy, and publicly made fun of certain executives. At the height of the row over the number of inauthentic accounts, he pitted a poop emoji against arguments from Twitter boss Parag Agrawal.