Twitter chief counsel warned personnel not to tweet, slack, or criticize the takeover transaction after Elon Musk abandoned the $44 billion deal to acquire Twitter.
Twitter Chief Told Staff to Avoid Posting Criticisms Regarding Twitter Transactions
Employees have been told not to discuss the transaction publicly after Elon Musk said on Twitter that he wants to cancel the $44 billion agreement to buy the firm.
The business advised staff to avoid tweeting, slacking, or posting any criticism regarding the acquisition deal in a document allegedly delivered to staff on July 8 by Twitter chief counsel Sean Edgett.
Twitter's staff instantly sent some rather amusing tweets about the issue when it was revealed on Friday, July 8, that Musk wanted out of the arrangement. One person tweeted that they had "unilaterally canceled my mortgage" and were relieved they were no longer responsible for paying it, referencing that it's quite unclear if Musk can just say no and go.
Another tweet mentioned a staff vacation to Disney that was postponed in order to save money after the Musk transaction was made public.
Elon Musk Cancels Twitter Acquisition; Twitter Responds with a Lawsuit
The billionaire's legal team reportedly filed a statement with the SEC stating that "the Tesla CEO intends to cancel the agreement because of "false and misleading promises" made by Twitter."
The false and deceptive claims are believed to be related to the number of fake accounts and automated accounts on the site and how the social media goliath counts them. According to Musk's legal team, the company intentionally withheld crucial facts, which led to the Tesla CEO being deceived.
However, Musk's withdrawal has prompted a response from Twitter, and the social media behemoth is reportedly preparing to file a lawsuit, according to The Verge.
According to a tweet from Twitter Chairman Bret Taylor, the Twitter Board is dedicated to completing the acquisition on the price and conditions agreed upon with Mr. Musk, and the company intends to take legal action to enforce the merger agreement.
The Tesla CEO would incur a significant loss if the agreement were to be terminated since both Twitter and Musk have committed to pay a $1 billion termination fee if one side withdraws for a particular cause.
Since his letter withdrawing from the agreement was made public with the Securities and Exchange Commission, Musk hasn't tweeted since then. His most recent tweet, on Thursday, expressed his enthusiasm for Tesla's product development.
Elon Musk Lawsuit Last Month
Back in June, Tesla's CEO also faced lawsuits concerning pyramiding scheme allegations by a crypto investor.
Elon Musk was presented before a federal court in Manhattan on June 16 for a class-action lawsuit that accuses the billionaire and his company of operating a pyramid scheme.
Musk and his businesses were sued for allegedly engaging in unlawful racketeering to maintain high Dogecoin pricing. Musk raised the price and then let it decline.
The investor said that despite knowing that the meme cryptocurrency had almost no value, Tesla and SpaceX's CEOs encouraged Dogecoin to capitalize on its trade.
The lawsuit also claims that Musk operated and manipulated the Dogecoin Pyramid Scheme for financial gain, publicity, and fun.
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