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Just three days ago, Tesla CEO Elon Musk expressed his intention to back out of his agreed acquisition of Twitter, the social media platform has now announced plans to file a lawsuit against the tech mogul.
Announcing the decision to sue over on Twitter, the company’s chairman Bret Taylor wrote –
The Twitter Board is committed to closing the transaction on the price and terms agreed upon with Mr. Musk and plans to pursue legal action to enforce the merger agreement.”
The notice came just under an hour after Musk’s legal team filed to withdraw from the deal with the Securities and Exchange Commission. “We are confident we will prevail in the Delaware Court of Chancery,” Taylor added.
