For a $44 million takeover deal, Twitter is suing Elon Musk

Twitter sues the world's richest person to force him to buy the platform, setting up a legal battle with the billionaire, Elon Musk

Twitter sued Musk after he announced he was walking away from his $44 million takeovers. Elon Musk claimed that Twitter had not given him the information about the number of fake accounts on the social media platform. Now Twitter has requested the Delaware court to order Elon Musk to complete the merger at the agreed $54.20 per share of Twitter.

The lawsuit accuses the world's richest person of a long list of violations of the merger agreement, which have cast a shadow over the business of Twitter. The lawsuit claims that Mr. Musk has backed out from the deal as it "no longer serves his interest." It said that as soon as Mr. Musk agreed to the deal, stock market fell along with Tesla's share. It added, "Rather than bear the cost of the market downturn, as the merger agreement requires, Elon Musk wants to shift it to Twitter's stockholders."

As Mr. Musk has already entered into a legally binding agreement, the lawsuit confirms that Twitter is hellbent on compelling the union to go ahead. The price Mr. Musk has agreed to pay Twitter is more than its current valuation. And it is tough to prove that Twitter is in breach of contract. Now the billionaire Elon Musk has faced the bizarre prospect of having to buy a company he doesn't want to acquire.