Elon Musk backed out of his acquisition of Twitter, and the company is suing him for it. The trial of Twitter v. Elon Musk is already scheduled for next month. Despite this, the billionaire has decided to oppose the social media behemoth.
Musk made an offer to purchase Twitter for $54.20 per share in late April, which was 30% higher than what the company was selling at the time. The acquisition was later put on hold because to research the company's internal workings.
In mid-July, he backed out of the deal, accusing Twitter of making phony statements during the negotiation process. He also claimed that the website hasn't provided data on the number of bots/spam accounts it has.
Elon Musk filed a countersuit against Twitter on Friday, July 29. The complaint, however, isn't accessible to the general public. Musk has urged the court to keep the specifics of his countersuit private. He has also not stated the reasons for doing so.