Iran Press/ America: Twitter sued Elon Musk on Tuesday for violating his $44 billion deal to buy the social media platform and asked a Delaware court to order the world's richest person to complete the merger at the agreed $54.20 per Twitter share.
The lawsuit sets in motion what promises to be one of the biggest legal showdowns in Wall Street history, involving one of the business world's most colorful entrepreneurs in a case that will turn on staid contract language.
On Friday, Musk said he was terminating the deal because Twitter violated the agreement by failing to respond to requests for information regarding fake or spam accounts on the platform, which is fundamental to its business performance.
Twitter's share price has fallen more than 8% in the past month, and in May tumbled from highs of more than $50 per share, as Musk questioned the number of fake and spam accounts on Twitter and said the deal was "temporarily on hold". 219
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Elon Musk calls off $44 billion Twitter deal
