Two days after The Tesla Inc CEO backed out from his $44 billion deal to buy Twitter, Elon shares a meme on the platform. It is a grid of his face, laughing at the lawsuit against Twitter.
Elon Musk has been sued by the Twitter board for backing out of the deal. They have threatened to issue legal action to enforce this merger of Musk and Twitter.
Musk’s lawyer has said that Twitter has failed to respond to the number of spam or fake accounts present on the platform.
Amid this legal battle, Elon Musk in his own signature style shared a meme, of him laughing at the whole situation.
The key demand for Musk in his deal was the full disclosure of the number of bots or fake accounts on Twitter.
Through a letter sent by his team, Elon Musk has terminated his merger with Twitter stating that they have breached the agreement. Twitter has ignored Musk’s request for two months to provide meet his demands.
Twitter has not backed up its claim, that Twitter only has about 5% of fake or bot accounts. They even added that there is a possibility that the numbers are even higher.
Musk’s team sent an official letter to Twitter last Friday. They stated that due to the company’s uncertainty about the number of bot accounts it is a “material adverse effect.” Which would allow him to walk away from the deal.
Twitter board’s chairman, Brent Taylor, said they would be pursuing legal action against a forced merger.
It has been reported that Twitter has hired a New York-based law firm to pursue legal action against Elon Musk. The lawsuit is to be filed in court sometime next week.