The Elon Musk vs Twitter saga is gaining momentum as more than $40 billion is at stake. During the hearing, Twitter representatives accused the entrepreneur of intending to malign the social network.
In April, Elon Musk, the world's richest man and also one of Twitter's most active users, announced that he was going to buy the social media platform. The value of the deal was expected to be $44 billion. Musk even proposed a string of changes to Twitter to make the platform better than ever. In May, the entrepreneur said that the Twitter deal was temporarily on hold. In his opinion, the social network has far more spam and bot users than they claim. Following the news, shares of Twitter plummeted by 20%. Tesla and SpaceX CEO has also withdrawn his offer. However, the company pursued legal action to enforce the merger agreement.
During the preliminary hearing, Twitter’s counsel said that Musk’s conduct was inexcusable. The plaintiffs believe that Musk's actions have also put the social network under pressure and damaged its reputation. In this regard, the billionaire should finalize the purchase deal rather than prevent a plan from succeeding, the company insists.
