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“It tracks the disdain he has shown for the company that one would have expected Musk, as its would-be steward, to protect. This is in keeping with the tactics Musk has deployed against Twitter and its stockholders since earlier this year, when he started amassing an undisclosed stake in the company and continued to grow his position without required notification,” the lawsuit reads. “Rather than bear the cost of the market downturn, as the merger agreement requires, Musk wants to shift it to Twitter’s stockholders. In addition, Musk’s strategist is described as “a model of bad faith.” Twitter’s lawyers described Musk as “a model of hypocrisy” in the lawsuit filed with the court in Delaware.

In a separate filing, Twitter said that Musk’s purported termination is “invalid and wrongful.” Moreover, the company’s top executive also warned about the challenging environment that “presents additional complexities and challenges for us and our industry.” Some of the coverage will be helpful to explain this complicated process, but a lot of the speculation will be distracting,” Agrawal wrote. “The coming weeks will be filled with news and noise about this case, with increased analyst and reporter speculation about what may unfold. “We took this opportunity to tell our story and defend our company, our people, and our stockholders.” In an email to staff, Agrawal said he believes Twitter will prevail and “prove our position in court.” Parag Agrawal, Chief Executive Officer of Twitter (NYSE: TWTR), informed his employees that the social media giant plans to hold Elon Musk “fully accountable to fulfill his contractual obligations.”