Takeover of Twitter by Elon Musk | The parties request the discontinuance of the dispute between them

(New York) After the takeover of Twitter by Elon Musk, the parties involved officially requested the abandonment of the procedure initiated in July to force the entrepreneur to buy the social network, according to documents made public on Monday.


The multibillionaire’s lawyer sent a letter dated Friday to the judge overseeing the case in a Delaware court pointing out that Elon Musk had finalized the acquisition of the social network on Thursday evening under the terms of the agreement concluded in April.

“In light of this development, the defendants and Twitter have agreed to withdraw their complaints and counter-complaints” and therefore propose to put an end to the procedure, it is written in the document.

The judge, Kathaleen McCormick, must still approve this request for the case to be officially closed.

The deal had been dragging on since April, when Elon Musk offered to buy Twitter for $44 billion, an offer the microblogging site reluctantly accepted.

But the entrepreneur, accusing the leaders of the platform of having lied to him about the proportion of false accounts, then sought to get out of it.

The board of directors of Twitter then filed a complaint in early July in the Delaware court for Elon Musk to keep his word.

At the beginning of October, a few days before the opening of a lawsuit that Twitter seemed on track to win, the entrepreneur had finally offered to conclude the transaction at the price initially agreed. The judge had given the multi-billionaire until October 28 to seal the deal.

Leave a Comment