Wilmington: Billionaire Elon musk Twitter Inc. is accused of fraud by concealing serious flaws in the social media company’s data security, according to Thursday’s court filing, which the entrepreneur said should allow him to end his $44 billion deal for the company. .
Musk, the world’s richest man, amended his previously filed suit by adopting allegations from a Twitter whistleblower who told Congress On Tuesday, a case of interference on influential social media platforms by foreign agents has come to the fore.
chief executive officer of electric vehicle manufacturer Tesla Inc. It also alleged that Twitter concealed from him that it was not complying with the 2011 agreement. federal trade commission Regarding user data.
“Needless to say, the latest disclosures make unquestionably clear that the Musk parties have every right to walk away from the merger agreement – for several independently sufficient reasons,” the revised countersuit said.
Twitter said in a statement that it is looking forward to the five-day trial beginning October 17 in Delaware. “Mr Musk’s claims are factually incorrect, legally inadequate and commercially irrelevant,” the company said.
Musk claims whistleblower, former Twitter security chief Peter “Muge” zatkoThe amount of fraud and breach of contract by Twitter.
Musk has asked a Delaware judge to find that he was not obligated to close the deal, while Twitter wants the judge to order Musk to buy the company for $54.20 per share.
Twitter shares closed up 0.6% at $42.14 on Thursday.
Twitter said it conducted an internal investigation into Jatco’s allegations and determined they lack merit. The company has said that Zatco was fired for poor performance.
Lawyers for Twitter have said in court that the whistleblower’s claim that Musk joined his case either did not have grounds for terminating the deal or failed to meet the standard of fraud.
Musk, the world’s richest man, amended his previously filed suit by adopting allegations from a Twitter whistleblower who told Congress On Tuesday, a case of interference on influential social media platforms by foreign agents has come to the fore.
chief executive officer of electric vehicle manufacturer Tesla Inc. It also alleged that Twitter concealed from him that it was not complying with the 2011 agreement. federal trade commission Regarding user data.
“Needless to say, the latest disclosures make unquestionably clear that the Musk parties have every right to walk away from the merger agreement – for several independently sufficient reasons,” the revised countersuit said.
Twitter said in a statement that it is looking forward to the five-day trial beginning October 17 in Delaware. “Mr Musk’s claims are factually incorrect, legally inadequate and commercially irrelevant,” the company said.
Musk claims whistleblower, former Twitter security chief Peter “Muge” zatkoThe amount of fraud and breach of contract by Twitter.
Musk has asked a Delaware judge to find that he was not obligated to close the deal, while Twitter wants the judge to order Musk to buy the company for $54.20 per share.
Twitter shares closed up 0.6% at $42.14 on Thursday.
Twitter said it conducted an internal investigation into Jatco’s allegations and determined they lack merit. The company has said that Zatco was fired for poor performance.
Lawyers for Twitter have said in court that the whistleblower’s claim that Musk joined his case either did not have grounds for terminating the deal or failed to meet the standard of fraud.