Elon Musk’s attempt to walk away from his $44 billion deal to buy Twitter is likely to result in a protracted legal battle between the billionaire and the social media platform. Musk’s team contended in a filing Friday that Twitter had breached the agreement, which allows him to terminate the purchase. But Twitter is unlikely to let the Tesla and SpaceX CEO off the hook from what it says is a binding commitment to purchase the company, and it retains the ability to ask a judge to compel Musk to complete the deal. The company is expected to take the dispute to Delaware Chancery Court, a local court that handles investor disputes, as early as this week. Chancery judges in Delaware, which is the corporate home for more than half the public companies in the U.S., including Twitter, hear complex business law cases without juries. Twitter will most likely seek a declaratory judgment in the case, asking the judge to determine whether the company has violated the terms of the sale agreement. Musk and his legal team in Friday’s filing outlined three ways they believe Twitter violated the contract, two of which concern the number of bot accounts on the platform. …
Read More












