Last Update: August 30, 2022, 17:09 IST
Musk thinks the platform violated several terms in the deal
Elon Musk has sent an additional letter of deal termination to Twitter Inc after the world’s richest man asked a whistleblower for documents on how the social media company measures spam accounts.
(Reuters) – Elon Musk Twitter Inc. has been sent an additional letter of termination of the deal after the world’s richest man summoned a whistleblower asking for documents on how the social media company measures spam accounts.
Musk pulled out of a $44 billion offer for Twitter in July, saying the company had misled him and regulators about the exact number of spam or bot accounts on the microblogging platform.
According to a court filing on Monday, Musk has asked whistleblower and former Twitter security chief Peter Zatko for information on how the microblogging site measures spam accounts.
https://www.youtube.com/watch?v=/p4vQo9oyF4c
Zatko, a well-known hacker known as “Mujh”, said in his complaint that went public last week that the company falsely claimed it had a solid security plan in place and that reducing spam was aimed at reducing user growth. given priority.
Following the disclosure, Musk’s legal team said the allegations on certain facts, which were known to Twitter before July 8 but were not disclosed, provide additional and specific grounds for terminating the deal.
The summons to Jatko comes for a five-day trial at the Delaware Court of Chancery beginning October 17.
While Musk wants to end the deal, Twitter is asking Chancellor Kathleen McCormick to order him to buy it at an agreed upon $54.20 per share.
Meanwhile, according to a regulatory filing by Musk on Tuesday, an additional termination notice was given on August 29 in case the July 8 notice was invalid for any reason.
Shares of Twitter were down 2.5% at $39.02 before the bell.
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