(Bloomberg) — Twitter Inc. Chief Executive Officer Parag Agrawal warned employees Tuesday that the company’s lawsuit against Elon Musk will create a lot of distractions around the company, encouraging them to stay focused.
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“The coming weeks will be filled with news and noise about this case,” including speculation from the media and analysts, Agrawal wrote in an email. “Some of the coverage will be helpful to explain this complicated process, but a lot of the speculation will be distracting.”
He ended the email, which was filed with the US Securities and Exchange Commission Wednesday, on an encouraging note. “The work all of us do, as individuals and as #OneTeam, impacts people’s lives and comes with deep responsibility and meaning,” he wrote. “Our resilience, collectively, will carry us forward.”
Twitter sued Musk on Tuesday demanding that the Tesla Inc. CEO complete a $44 billion takeover agreement that he signed in late April. Musk is trying to abandon the deal, claiming Twitter has violated the terms of the accord and hasn’t been helpful in sharing information about the number of spam bots on the service.
Twitter has denied that claim and is asking a Delaware court to force Musk to complete the purchase.
“Musk apparently believes that he — unlike every other party subject to Delaware contract law — is free to change his mind, trash the company, disrupt its operations, destroy stockholder value, and walk away,” Twitter’s lawyers wrote in the suit.
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Source: https://finance.yahoo.com/news/twitter-ceo-warns-staff-noise-212811509.html