Twitter has sued Musk in Delaware’s Court of Chancery in an effort to force him to complete a $44 billion takeover deal reached in April.Musk, the world’s richest man, pledged to pay $54.20 a share for Twitter but now wants to back out of the agreement.
The 230-year-old Court of Chancery typically handles civil cases where a plaintiff is seeking non-monetary damages. Such cases can include disputes over property boundaries and land purchases, guardianship appointments, and estates, trusts and wills. Hamermesh, a former professor of corporate and business law at Widener University Delaware Law School, noted that the specific performance sought by Twitter is a “pretty rare” remedy, and that it’s uncertain whether the court will force Musk to consummate the deal.
Will the SECGov bring charges against Twitter executives for falsified valuation of their company?
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