The fight that they have been having for months Elon Musk Y Twitter about the purchase of social network It will now go to court after the decision of the billionaire businessman to cancel the operation, which leaves the Justice before a practically unprecedented case.
A priori, according to expert opinions, Twitter has an advantage in this legal battle, in which he will seek Musk to complete the acquisition of his business under the agreed terms.
But, not all people fully understand what is going on between Elon Musk and Twitter. Next, TechMarkup will show a top 5 of the moments that have released the most tension between the CEO of Tesla and the social network:
1. Twitter stock tanked after Elon Musk called off the purchase
Twitter shares fell as much as 11% after trading opened on Monday July 11 as the legal dispute between Elon Musk and the social media company was expected to take center stage after the world’s richest person world will pull out of the $44 billion deal.
MuskCEO of Tesla, said on Friday, July 8, that terminated its agreement to buy Twitter because the company had breached several provisions of the merger agreement.
That same Monday, Musk criticized Twitter’s stance, tweeting that the legal battle would lead the company to reveal information about bots and user accounts. spam in the tribunals. The series of tweets, which included memes, was Musk’s first public response.
2. Elon Musk “mocked” Twitter for saying that more than 95% of active users are human.
The CEO of SpaceX lashed out at Twitter in May of this year, “mocking” the number of bots (or fake accounts) and humans on the social network.
Through a survey that he published on his verified profile, the tycoon referred to the figure defended by the platform, which says that less than 5% are accounts could be handled by software and not people.
“Twitter claims > 95% of daily active users are real, unique humans. Does anyone have that experience?”, questioned the tycoon.
3. Twitter denounced that Elon Musk was damaging their interests
On July 19, Twitter denounced in court that billionaire Elon Musk was damaging his interests with each passing day and reiterated that the trial between both parties should be held “as soon as possible” to avoid further damage.
In documents presented before the Wilmington Court (Delaware, USA) that handles the case, the microblogging firm accused Musk of be using tactics “calculated to complicate and obfuscate” the process and to “expand” the damage caused by using the social network itself as a megaphone to attack the company.
“Millions of shares of Twitter are traded on the market every day under a cloud of doubt created by Elon Musk. Never has a company of this size and scale been subject to these uncertainties”, pointed out the lawyers of the social network firm at the time.
4. Elon Musk challenged the CEO of Twitter to discuss fake accounts on the social network
True to form, a month ago the CEO of Tesla again caused confusion about the possible acquisition of Twitter.
Exactly, on August 6, 2022, Musk responded to a Twitter user’s question about the number of controversial “fake” accounts on this social network. And his response left many users speechless.
“Good summary of the problem. If Twitter simply provides its method of sampling 100 accounts and how they are confirmed to be real, the deal should continue on its original terms.
However, if it turns out that your filings with the SEC are materially false, then it should not be so, “you can read in the tweet translated into Spanish.
Likewise, Musk challenged Parag AgrawalCEO of Twitter, to hold a public debate on the real percentage of bots in the social network to show that spam in this social network is less than 5%.
5. Latest: Twitter calls Elon Musk a coward
This Monday, Twitter came out to respond to the third letter from Elon Musk insisting on the cancellation of the purchase. In an email, the company assures that the arguments are invalid because the employer continues to violate the agreement “knowingly, intentionally, willfully, and materially.”
Furthermore, the firm led by Parag Agrawal claimed that the purchase was not canceled, but it did not stop there. He also noted that the debt and capital commitment letters (with which Elon Musk guaranteed the financing to face the purchase) are still in force.
Twitter will continue to exercise its right to specifically enforce all of the Musk Parties’ obligations under the Agreement.
Elon Musk’s new letter does not change the outlook for the start of the trial. However, it does make clear how the argument made by his lawyers has evolved.
Twitter, meanwhile, assured that the businessman’s real motives had nothing to do with his public arguments. He said that Elon Musk chickened out especially due to the global political context and the effect of inflation on the markets.
In a recent hearing, a lawyer for the social network read an SMS that the tycoon sent to a Morgan Stanley banker. In it, he requested that the entity “cool down” its involvement in the purchase process. “There is no point in buying Twitter if we are headed for World War III”plot.