Congress has cut federal funding for public media — a $3.4 million loss for LAist. We count on readers like you to protect our nonprofit newsroom. Become a monthly member and sustain local journalism.
Twitter Takes Elon Musk To Court
Twitter's lawsuit sets the social media company and the world's richest man up for a lengthy, expensive and high-stakes battle.
(
Soumyabrata Roy/NurPhoto via Getty Images; Patrick Pleul/picture alliance via Getty Images
)
Twitter has sued Elon Musk to compel him to buy the social media company for $44 billion — a deal the world's richest person said last week he was calling off.
The lawsuit, filed in Delaware's Court of Chancery on Tuesday, accuses Musk of hypocrisy and bad faith in his dealings with Twitter. It sets Twitter and Musk up for a lengthy, expensive and high-stakes battle in which a once-reluctant seller will try to force the hand of a now unwilling buyer.
"Musk refuses to honor his obligations to Twitter and its stockholders because the deal he signed no longer serves his personal interests," the complaint says. "Musk apparently believes that he — unlike every other party subject to Delaware contract law — is free to change his mind, trash the company, disrupt its operations, destroy stockholder value, and walk away."
Musk and his representatives didn't immediately respond to a request for comment.
Support for LAist comes from
The Tesla and SpaceX CEO struck an agreement to buy Twitter for $54.20 a share in late April. He vowed to make the platform a bastion of unfettered free speech and clean up the long-running issue of spam and automated bots.
But since then, the mercurial billionaire has launched a fight with the company over the prevalence of fake accounts, which he claims, without offering evidence, is higher than Twitter lets on. He's also aimed a near-constant stream of criticism at the company, including targeting executives and complaining about its content moderation decisions and features.
Over the same period, stock markets have fallen, making the price Musk agreed to pay for Twitter look more expensive even as Tesla shares, his main source of wealth, have dropped.
On Friday, Musk notified Twitter he was terminating the deal. He accused the company of misrepresenting the percentage of fake accounts and of failing to provide him with information to verify its estimates. These, he said, were grounds for abandoning the purchase.
Twitter says it's Musk who has violated the deal. "These claims are pretext and lack any merit," the complaint says.
Support for LAist comes from
-
Copyright 2024 NPR. To see more, visit npr.org.
As Editor-in-Chief of our newsroom, I’m extremely proud of the work our top-notch journalists are doing here at LAist. We’re doing more hard-hitting watchdog journalism than ever before — powerful reporting on the economy, elections, climate and the homelessness crisis that is making a difference in your lives. At the same time, it’s never been more difficult to maintain a paywall-free, independent news source that informs, inspires, and engages everyone.
Simply put, we cannot do this essential work without your help. Federal funding for public media has been clawed back by Congress and that means LAist has lost $3.4 million in federal funding over the next two years. So we’re asking for your help. LAist has been there for you and we’re asking you to be here for us.
We rely on donations from readers like you to stay independent, which keeps our nonprofit newsroom strong and accountable to you.
No matter where you stand on the political spectrum, press freedom is at the core of keeping our nation free and fair. And as the landscape of free press changes, LAist will remain a voice you know and trust, but the amount of reader support we receive will help determine how strong of a newsroom we are going forward to cover the important news from our community.
Please take action today to support your trusted source for local news with a donation that makes sense for your budget.
Thank you for your generous support and believing in independent news.
Chip in now to fund your local journalism
(
LAist
)
Trending on LAist
-
Isolated showers can still hit the L.A. area until Friday as remnants from the tropical storm move out. -
First aspiring spectators must register online, then later in 2026 there will be a series of drawings. -
It's thanks to Tropical Storm Mario, so also be ready for heat and humidity, and possibly thunder and lightning. -
![A Black woman sits at a dais with a flag in the background. A name placard in front of her reads: Dr. Va Lecia Adams Kell[um].](https://scpr.brightspotcdn.com/dims4/default/5425437/2147483647/strip/true/crop/6298x3897+0+0/resize/640x396!/quality/90/?url=http%3A%2F%2Fscpr-brightspot.s3.us-west-2.amazonaws.com%2F76%2F00%2Febed9a7a4fbd9e5ba12997e51d59%2Fgettyimages-1258669633.jpg)
L.A. County investigators have launched a probe into allegations about Va Lecia Adams Kellum and people she hired at the L.A. Homeless Services Authority. -
L.A. Mayor Karen Bass suspended a state law allowing duplexes, calling more housing unsafe. But in Altadena, L.A. County leaders say these projects could be key for rebuilding. -
This measure on the Nov. 4, 2025, California ballot is part of a larger battle for control of the U.S. House of Representatives next year.
![A Black woman sits at a dais with a flag in the background. A name placard in front of her reads: Dr. Va Lecia Adams Kell[um].](https://scpr.brightspotcdn.com/dims4/default/45c201e/2147483647/strip/true/crop/6298x3894+0+0/resize/786x486!/format/webp/quality/90/?url=http%3A%2F%2Fscpr-brightspot.s3.us-west-2.amazonaws.com%2F76%2F00%2Febed9a7a4fbd9e5ba12997e51d59%2Fgettyimages-1258669633.jpg)
Best of LAist