Illustration by Dado Ruvic/Reuters
Twitter’s lawyers assailed Elon Musk in a new court filing on Thursday, claiming that the billionaire is trying to extricate himself from his $44 billion acquisition agreement because “the stock market—and along with it, his massive personal wealth”—have declined in value.
The attorneys rebuffed the notion that Musk had somehow been “hoodwinked” into agreeing to buy the company, noting that he is a “billionaire founder of multiple companies” and has been “advised by Wall Street bankers and lawyers.”
The filing, made in the Delaware Court of Chancery, was submitted in reply to a separate brief Musk had filed late last month. Strangely, Musk’s own filing has not yet been made public, due to possible redactions that still need to occur. That has given Twitter the opportunity to forcefully advance its narrative.