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BREAKING
Russian Foreign Ministry: The UN Security Council must respond to the US attacks on Iran
Russian Foreign Ministry: We strongly condemn the US strikes on Iran, calling the decision irresponsible
Iranian Red Crescent: Three personnel martyred, 29 injured in Israeli aggression
IRGC: We have identified and monitored the departure points of the US aircraft that carried out the aggression
IRGC: America has neither the initiative nor the ability to escape the consequences of a powerful response
IRGC: We strongly affirm that Iran's peaceful nuclear technology cannot be destroyed by any attack
Iran's IRGC: Washington has placed itself directly on the frontline of aggression by attacking peaceful facilities
Iran's IRGC: The number, scope, and size of US military bases in the region are not a point of strength, but rather a point of weakness
Tasnim News Agency: Iran's Fordow nuclear facility was only partially damaged by US strikes
UK trade minister Reynolds: We were not involved in Iran attacks but we were informed

Twitter sues Musk for pulling out of $44 billion deal

  • By Al-Mayadeen
  • Source: Agencies
  • 13 Jul 2022 17:35
2 Min Read

On July 8, the billionaire waived the buyout worth $ 44 billion. The social network launched yesterday a lawsuit against the boss of Tesla.

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  • Twitter suing Musk over pulling out $44 billion deal
    Twitter suing Musk over pulling out $44 billion deal

Last April, the boss of Tesla announced his intention to buy the social network for an amount of $44 billion. On July 8, Elon Musk decided to retract his decision in an official letter. A judge from a specialized business law court in the state of Delaware will have to determine whether or not the billionaire has the right to terminate the acquisition agreement. This agreement provides for severance payments amounting to one billion dollars.

Twitter accused Elon Musk of acting in bad faith, accusing him of asking for information about the company in order to then accuse them of providing “false statements” about their activities to regulators and investors. The social media network hired two days ago the firm Wachtell, Lipton, Rosen & Katz LLP as their legal representatives, whereas Musk is represented by Quinn Emanuel Urquhart & Sullivan LLP. 

Read more: Twitter vs. Musk: Twitter hires 'heavy hitter' legal representatives

On Twitter's final verified complaint, it is stated that Musk "has purported to put the deal on 'hold' pending satisfaction of imaginary conditions, breached his financing efforts obligations in the process, violated his obligations to treat requests for consent reasonably and to provide information about financing status, violated his non-disparagement obligation, misused confidential information, and otherwise failed to employ required efforts to consummate the acquisition." 

Related News

Trump says Musk has 'lost his mind', dismisses peace offering

Trump-Musk feud sends Tesla stock plunging

It also stated that "[Musk] has been acting against this deal since the market started turning, and has breached the merger agreement repeatedly in the process."

Musk responded by posting a meme of himself last Monday on Twitter:  

pic.twitter.com/JcLMee61wj

— Elon Musk (@elonmusk) July 11, 2022

Twitter's complaint alleges that the company "has suffered and will continue to suffer irreparable harm as a result of defendants’ breaches", which "cast a shadow over Twitter and its business." 

After hitting its lowest on Wall Street in four months on Monday, the Twitter stock bounced back on Thursday with (+4.32% to $34.06).

  • Twitter
  • Twitter lawsuit
  • Tesla
  • Elon Musk

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Iran launches 9th wave of Op. True Promise 3, destroys IOF air defense

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  • 17 Jun 2025
Rescue team work at the site where a missile launched from Iran struck Tel Aviv, Israel, Monday, June 16, 2025 (AP)

Wave 12 of Operation True Promise 3 launched, Sejjil deployed: IRGC

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Iran launches missile barrage to Tel Aviv, casualties reported

True Promise 3, wave 14: Tel Aviv targeted, casualties reported

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  • 19 Jun 2025
Iran's heavy barrages impact multiple Israeli targets overnight

Iran's heavy barrages impact multiple Israeli targets overnight

  • Palestine
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