Elon Musk has written to Twitter’s management demanding more data on fake accounts on the platform. The matter is described в письме, published on the U.S. Securities and Exchange Commission’s website.
“In effect, Twitter declined to provide the information that Mr. Musk has repeatedly requested since 9 May 2022 to facilitate the assessment of spam and fake accounts on the platform. The latest Twitter proposal merely to provide additional information about the company’s own testing methodologies is tantamount to a refusal to supply the data,” said attorney Mike Ringler.
According to the letter, the agreement provides for the company to share the requested data for ‘any reasonable business purposes related to the completion of the deal’. In Musk’s view, Twitter “clearly refuses” to fulfil its obligations over concerns about the results of an independent data assessment.
“[…] Mr. Musk reserves the right not to complete the deal and the right to terminate the merger agreement,” the letter states.
At the opening of trading on June 6, Twitter stock fell 3.34%. The current price is $38.82.
In early April, Musk became Twitter’s largest shareholder after acquisition of 9.2% of the shares for $2.89 billion.
On 14 April he proposed to acquire the social network for more than $43 billion. The entrepreneur explained this as an intention to create “an inclusive arena for freedom of speech,” not a desire to make money.
Initially, Twitter’s management не оценило the offer and approved a takeover-defence plan. However later reconsidered its position.
At the end of the month, the board approved selling the company to Musk for $44 billion. One of the billionaire’s goals was to defeat the platform’s spam bots.
On May 13, Tesla’s head announced the suspension of the Twitter acquisition deal after media reported inflated audience metrics. He also blamed the network’s algorithms for manipulating users.
Earlier, shareholders filed suit against Musk and the social network over the chaotic takeover process. They allege that the billionaire violated California law by sowing doubts about the deal’s closure.
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