Shares of social media firms fell sharply on Friday as Twitter joined the Snapchat owner in signalling a cutback in digital ad spend as economic growth sputters.
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Twitter can fast-track its lawsuit against billionaire Elon Musk over his cancelled $44-billion buyout of the social media platform.
A billionaire signed on to buy a company and then regretted it when the market moved against him. That doesn’t give him the right to just walk away.
Twitter has dismissed Elon Musk’s complaints that he doesn’t have enough information about spam and robot accounts as an “irrelevant sideshow”.
Twitter was down for thousands of users across the globe on Thursday, according to outage tracking website Downdetector.com.
Twitter has sued Elon Musk for violating his $44-billion deal, accusing him of trashing the company, disrupting its operations and destroying shareholder value.
Twitter fired back at Elon Musk, accusing the world’s richest person of “knowingly” breaching an agreement to buy the social media firm.
Twitter has a strong legal case against Elon Musk walking away from his $44-billion deal to acquire the US social media company.
Elon Musk is terminating his $44-billion deal to buy Twitter, setting the stage for an ugly legal battle.
Twitter employees expressed disbelief and exhaustion after Elon Musk terminated a deal to buy the social media company.