Al Mayadeen English

  • Ar
  • Es
  • x
Al Mayadeen English

Slogan

  • News
    • Politics
    • Economy
    • Sports
    • Arts&Culture
    • Health
    • Miscellaneous
    • Technology
    • Environment
  • Articles
    • Opinion
    • Analysis
    • Blog
    • Features
  • Videos
    • NewsFeed
    • Video Features
    • Explainers
    • TV
    • Digital Series
  • Infographs
  • In Pictures
  • • LIVE
News
  • Politics
  • Economy
  • Sports
  • Arts&Culture
  • Health
  • Miscellaneous
  • Technology
  • Environment
Articles
  • Opinion
  • Analysis
  • Blog
  • Features
Videos
  • NewsFeed
  • Video Features
  • Explainers
  • TV
  • Digital Series
Infographs
In Pictures
  • Africa
  • Asia
  • Asia-Pacific
  • Europe
  • Latin America
  • MENA
  • Palestine
  • US & Canada
BREAKING
Israeli media: Preliminary reports of shooting operation at Allenby crossing with Jordan.
Al Mayadeen's correspondent: Two were martyred in an initial toll of the Israeli drone strike that targeted the al-Asira neighborhood in the city of Baalbek, eastern Lebanon
Al Mayadeen's correspondent: An Israeli drone strike targeted the al-Asira neighborhood east of Baalbek, eastern Lebanon
Sheikh Naim Qassem to the pager attack survivors: You are the greatest resistance. Know that 'Israel' will fall because it embodies aggression, crime, and occupation; victory is truly yours
Sheikh Qassem to the pager attack survivors: The value of what you are doing despite your wounds is immense, and here you are, treading the path of the Master of Nation's Martyrs and the leaders
Sheikh Qassem to the pager attack survivors: You are moving forward with insight deeper than sight itself. The enemy sought to eliminate your role in the battle, yet you remain steadfast and continue the fight
Hezbollah Secretary-General Sheikh Naim Qassem to the pager attack survivors one year later: You are healing from your wounds and rising above them. You have successfully passed the test
Palestinian media: Reports of stabbing operation in occupied al-Quds.
Israeli media: Sirens blare in Arava in South, near Ramon Airport.
Egyptian PM Mostafa Madbouli: Egypt is targeted in plans to redraw regional map

Twitter sues Musk for pulling out of $44 billion deal

  • By Al-Mayadeen
  • Source: Agencies
  • 13 Jul 2022 16:35
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.

  • x
  • 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

Tesla ordered to pay $243 million in Florida autopilot crash verdict

Musk’s AfD endorsement fuels Tesla backlash in German factory town

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

Most Read

Why is Choose Love using a firm with British and US intelligence connections to run a pro-Palestine musical event? (Al Mayadeen English; Illustrated by Batoul Chamas)

Together for Palestine: Troubling questions about the organisers of this huge event

  • Opinion
  • 17 Sep 2025
Uprising against Volker Turk at the Human Rights Council over Gaza.

Uprising against Volker Turk at the Human Rights Council over Gaza

  • Politics
  • 12 Sep 2025
A screengrab from the ad played on Fox News. (X Screengrab)

Fox airs ad warning Trump not to let Netanyahu 'play' him on Gaza

  • US & Canada
  • 11 Sep 2025
Lapid: Egypt’s Arab Force plan a 'severe blow' to normalization

Lapid: Egypt’s Arab Force plan a 'severe blow' to normalization

  • Palestine
  • 14 Sep 2025

Coverage

All
The Ummah's Martyrs

Read Next

All
A Hezbollah supporter who lost his sight in a pager attack carried out by "Israel" on Sept. 17, 2024, covers his eyes with a red headband inscribed with the name "Hussein" during Ashoura, July 6, 2025 (AP)
Politics

'We Have Recovered': Lebanon marks 1st anniversary of Pager Attack

The Arab neighborhood of El Za'im, on the outskirts of east Occupied Al-Quds in the West Bank, near where Israeli government says housing units will be built as part of the E1 settlement project, Thursday, August 21, 2025. (AP Photo/Ohad Zwigenberg)
Palestine

'Israel’s' deliberate policies drive West Bank economy toward collapse

Ben & Jerry's ice cream shop, Wednesday, Feb. 26, 2025, in Cambridge, Mass. (AP Photo/Charles Krupa)
Politics

Ben & Jerry’s co-founder resigns over parent company curbing activism

Trump’s approval rating falls to new low in second term: Poll
US & Canada

Trump’s approval rating falls to new low in second term: Poll

Al Mayadeen English

Al Mayadeen is an Arab Independent Media Satellite Channel.

All Rights Reserved

  • x
  • Privacy Policy
  • About Us
  • Contact Us
  • Authors
Android
iOS