Elon Musk & Twitter Deal : Latest News, Rumours, Videos, Photos etc.

This article will time to time update latest news and rumours about Elon Musk and Twitter deal. Bookmark this site for latest update. 

06 August, 2022
Elon Musk re-stipulated Twitter's contract

Elon Musk, the world's richest man, has again brought forward his conditions for buying Twitter. He said he would not move forward with a $44 billion deal to acquire Twitter until microblogging site Twitter proved the number of fake users was less than 5 percent. If the Twitter authorities can prove their claim, he will go ahead with the contract process with all the conditions.

Tesla's CEO claims that the number of fake accounts on Twitter is 20 percent or more. But Twitter authorities are unwilling to accept this demand. So he is asking Twitter for proof.

In a tweet on Saturday, he said, "If the claims of the Twitter authorities are proven false in the US Securities and Exchange Commission, then he will not do the deal."

A user on Twitter asked whether the US Securities and Exchange Commission is investigating the existence of fake accounts on Twitter. In response, Elon Musk said, Good question. Why are they not looking?

However, Twitter has not commented on this. Earlier, Musk claimed that he was being tricked into selling Twitter. However, the Twitter authority rejected this complaint of Musk last Thursday. They claim that what Musk said is unimaginable and contrary to reality.

Twitter authorities sued Elon Musk after withdrawing its offer to buy Twitter on July 12. Twitter authorities claim that Musk has spread confusion by claiming to have a fake account. He is bound to sign a deal to buy Twitter for $54.20 a share. Then on July 29, Musk filed a counter-suit against Twitter.

30 July 2022
This time Musk's counter-suit against Twitter

Electric car maker Tesla CEO Elon Musk has filed a countersuit against Twitter. He filed this case last Friday. Earlier, Twitter executives sued Elon Musk after withdrawing its offer to buy Twitter for $44 billion. Elon Musk chose to continue the legal battle over the purchase of Twitter by countersuing.

The 164-page document in the case is yet to be made public. However, a revised version may be released soon as per court rules.

Delaware Court of Chancery Chancellor Kathleen McCormick ordered a 5-day trial starting on October 17 regarding Elon Musk's withdrawal from the Twitter contract. A few hours later, Elon Musk filed a counter-suit. Reuters contacted Twitter officials, but the microblogging site did not immediately respond to a request for comment.

Elon Musk, the world's richest man, has alleged that Twitter Inc breached an agreement by not accurately representing the number of fake accounts on its platform. So he withdrew from the process of buying Twitter. Then on July 12, Twitter authorities filed a lawsuit against Elon Musk in the Delaware court of the United States. This lawsuit was filed against Musk for canceling the 44 billion contract with Twitter.

According to Twitter authorities, Musk spread confusion by claiming to have a fake account. He was forced to sign a deal to buy Twitter for $54.20 a share. Twitter shares fell to $41.61 after Elon Musk's lawsuit last Friday.

McCormick moved to expedite the case last week, saying the move was to limit potential damage to Twitter from the uncertainty of the deal. Twitter is blaming the court battle for reduced revenue and chaos within the company. The two sides agreed to an Oct. 17 trial but could not agree on access to internal documents and other evidence. Twitter alleges — Musk wants massive amounts of information irrelevant to the core of the case. In this he has breached the contract.

20 July 2022

Elon Musk's trial in the Twitter case will begin in October

A US judge has ordered the trial of Twitter's lawsuit against Elon Musk to begin next October. He gave this order yesterday Tuesday.

According to the BBC, this order to start the trial is a big blow for the richest man in the world. Because, he was lobbying to delay the trial process.

Last April, Elon Musk announced the purchase of Twitter for 4 thousand 4 billion dollars. He announced on July 8 that he was withdrawing from the contract, claiming that Twitter did not provide detailed information about spam and fake accounts. Then Twitter sued the founder of US electric car maker Tesla.

Elon Musk agreed to buy Twitter for $54.20 per share. Twitter hopes that the court will order Musk to buy shares in accordance with the agreement.

Musk's legal team had called for the trial to begin early next year, citing complications. But Twitter wanted the trial to begin in September.

13 July 2022
Twitter sues Elon Musk over contract termination

Tech entrepreneur and world's richest man Elon Musk has announced that he is withdrawing from the deal to buy social media platform Twitter. Twitter has started a legal battle with Tesla CEO Elon Musk over this issue. A case has been filed against Elon Musk. The British media BBC reported this information in a report today.

At the end of last April, Elon Musk announced the purchase of Twitter for 4 thousand 4 billion US dollars. However, last Friday, Musk announced that he was withdrawing from his offer to buy Twitter for a record $44 billion. After that, the company filed a lawsuit against Musk.

Musk's claim, Twitter did not provide details on spam and fake account statistics. So he doesn't want to buy Twitter.

Meanwhile, Elon Musk's lawyer has previously said that multiple requests for information on fake or spam accounts from Twitter have not received any response. They failed to provide this information. But this transparency is the main aspect of an organization's business. Elon Musk signed a deal to buy Twitter last April. But now that it has been cancelled, Musk will go to court to ask for a billion dollars for breakup fees and other damages.

Twitter chairman Brett Taylor also said Twitter's board would take legal action to enforce Elon Musk's contract.

The terms of the agreement with Twitter were that, if for any reason the company cancels the purchase agreement or does not complete the financial transaction, the Twitter authorities must pay one billion US dollars in damages to Elon Musk, the CEO of the US electric car maker Tesla Inc. and the head of SpaceX.

Earlier last month, Elon Musk threatened Twitter authorities in a letter to withdraw from the deal to buy Twitter. The reason for this, he said, was that Twitter did not give him the information he wanted to know about fake and spam accounts.

Elon Musk has threatened not to move forward with the deal unless his conditions are met. He also complained that he faced obstacles on Twitter seeking details about users' information. At that time, the head of Tesla also threatened to pay less than the amount proposed to buy Twitter.

Earlier, according to BBC news, Elon Musk, one of the richest people in the world, bought 9.2 percent shares of Twitter. Since then, there have been rumors that he will buy the entire Twitter. Musk offered $4.3 billion to buy full ownership of Twitter.

Musk had a meeting with Twitter's board of directors about this; However, Twitter's board had earlier rejected Musk's proposal. The company's share price has already risen 4 percent to $50.62 on news of Twitter's sale. However, Elon Musk wants to pay 54.20 dollars per share.

09 July 2022
Elon Musk canceled the deal to buy Twitter

Tech entrepreneur and world's richest man Elon Musk has pulled out of a deal to buy social media giant Twitter. A report by NDTV Online said that the tycoon canceled the deal to buy the company for USD 4,4 billion due to Twitter's misleading statement about the number of fake accounts.

Elon Musk's lawyer said multiple requests to Twitter for information about the fake or spam account went unanswered. They failed to provide this information. But this transparency is the main aspect of an organization's business.

According to reports, Elon Musk signed an agreement to buy Twitter last April. But now that it has been cancelled, Musk will go to court to ask for a billion dollars for breakup fees and other damages.

Meanwhile, Twitter chairman Brett Taylor said Twitter's board will take legal action to enforce Elon Musk's contract.

The terms of the agreement with Twitter were that, if for any reason the company cancels the purchase agreement or does not complete the financial transaction, the Twitter authorities must pay one billion US dollars in damages to Elon Musk, the CEO of the US electric car maker Tesla Inc. and the head of SpaceX.

Earlier last month, Elon Musk threatened Twitter authorities in a letter to withdraw from the deal to buy Twitter. The reason for this, he said, was that Twitter did not give him the information he wanted to know about fake and spam accounts.

Elon Musk has threatened not to move forward with the deal unless his conditions are met. He also complained that he faced obstacles on Twitter seeking details about users' information. At that time, the head of Tesla also threatened to pay less than the amount proposed to buy Twitter.

Earlier, according to BBC news, Elon Musk, one of the richest people in the world, bought 9.2 percent shares of Twitter. Since then, there have been rumors that he will buy the entire Twitter. Musk offered $4.3 billion to buy full ownership of Twitter. Musk had a meeting with Twitter's board of directors about this; However, Twitter's board had earlier rejected Musk's proposal. The company's share price has already risen 4 percent to $50.62 on news of Twitter's sale. However, Elon Musk wants to pay 54.20 dollars per share.