It will be interesting to see how this develops. $44 billion is not chicken feed for anyone, including Musk. Of course, for some business people, litigation is just another negotiation tactic, but an early trial date puts a lot of pressure on Musk. The full Complaint can be found with a Google search - interesting reading. More specifically, the following is paragraph 4 of the Complaint, which is referring to the $44 billion purchase price.
"That price, presented by Musk on a take-it-or-leave-it basis in an unsolicited public offer, represented a 38% premium over Twitter’s unaffected share price. The other terms Musk offered and agreed to were, as he touted, “seller friendly.” There is no financing contingency and no diligence condition. The deal is backed by airtight debt and equity commitments. Musk has personally committed $33.5 billion."
The absence of a diligence condition, if accurate, and its relevance to Musk's subsequent demand for fake account information, would seem to be important issues for the court. Also, I wonder how the court will handle Twitter's request to compel completion of the deal. Twitter alleges that it negotiated a strong provision in the agreement to compel Musk to complete the deal. We will see how this all plays out.
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