Elon Musk and Twitter trade blows with new court filings

San Francisco, California - Twitter and Elon Musk are truly in the legal ring now and trading blows in the most white-collar way possible: court filings.

Twitter and Musk are off to the legal races!
Twitter and Musk are off to the legal races!  © Collage: REUTERS & Unsplash/Alexander Shatov

Twitter dismantled Musk's reasons for trying to weasel out of his $44 billion buyout bid of the platform on Thursday in a 127-page court filing, seen by Gizmodo.

Twitter's filing says "the counterclaims are a made-for-litigation tale that is contradicted by the evidence and common sense."

The document is Twitter's response to "more than ninety pages of counterclaims" from Musk's legal team.

"According to Musk, he – the billionaire founder of multiple companies, advised by Wall Street bankers and lawyers – was hoodwinked by Twitter into signing a $44 billion merger agreement," Twitter said, adding in a dose of sarcasm.

The filing goes on to cut the legs off of Musk's reasons for ditching the deal, calling them "factually inaccurate, legally insufficient, and commercially irrelevant."

Elon Musk started it

Let's roll the tape back for a second.

Back in April, Musk was keeping everyone guessing with his share purchase that made him the single largest Twitter shareholder.

He then offered and signed the $44 buyout bid for the social media platform, and waived any due diligence – or research into Twitter's state of affairs – which is basically the same as agreeing to buy a house "as-is".

But now that Twitter is suing Musk to go through with his buyout bid or pay the price, the billionaire is trying every trick in the book to squirm out of the deal he initiated.

He's even gone as far as to accuse Twitter of fraud in his own Thursday filing, according to ABC News.

The topsy-turvy rollercoaster ride of Musk's Twitter buyout bid has surged on to the turbulent tumbles of legal battling. The two's official court date is set for October 17.

Cover photo: Collage: REUTERS & Unsplash/Alexander Shatov

More on the topic Twitter: