Twitter sues Musk for a model of ‘bad faith’ and ‘hypocrisy’

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Twitter is suing billionaire Elon Musk over his attempt to walk away from the deal he struck to buy the company, reports Kate Conger for the New York Times.

Mr Musk agreed in April to buy Twitter but said last week he intended to walk away from the deal. To pressure Mr. Musk to comply with the acquisition agreement, Twitter sued him in Chancery Court in Delaware. The court will determine whether he remains clinging to the purchase or whether Twitter breached its obligation to provide Mr. Musk with the data he requested, allowing him to opt out.

Twitter pointedly called Musk’s bluff when he made the request, giving access to the tweets’ famous “firehose.” The impression Musk has given throughout the imbroglio, however, has been mercurial at best, but mostly dismissive and insincere. It’s like he’s been trolling all along and realizes that his dumb, half-hidden Twitter agenda could actually become financially ruinous.

Twitter’s lawsuit is openly insulting in return, calling its rhetoric “a model of hypocrisy”. The smug corporate smile is gone and the gloves are off.

Musk apparently believes that he – unlike all other parties subject to Delaware contract law – is free to change his mind, destroy the company, disrupt its operations, destroy shareholder value and harm himself. go. …

Musk wanted an escape. But the merger agreement left him little room. With no contingency of funding or a due diligence condition, the deal gave Musk no way out absent a material adverse corporate effect or material breach of a Twitter engagement. Musk must have tried to conjure one.

The details describe the company’s efforts to get him to care about the things he was asking for and getting. But instead, he was constantly shitting.

Musk showed little interest in understanding Twitter’s process for estimating spam accounts that entered the company’s disclosures. Indeed, in a conversation with Segal on June 30, Musk acknowledged that he had not read the detailed summary of Twitter’s sampling process provided in May. Once again, Segal offered to hang out with Musk and review the detailed summary of Twitter’s sampling process, as the Twitter team had done with Musk’s advisers. This meeting never took place despite multiple attempts by Twitter.

He could do anything he wants with all his wealth, and all he wants is to be the ultimate poster boy.

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