Does Twitter Have Too Many Fake Accounts? With this reason, Elon Musk wants to cancel the $ 44 billion deal. So far, however, he has not been able to prove this – and Twitter is positioning itself legally.
Twitter is preparing for a legal battle with tech billionaire Elon Musk over his attempt to call off the takeover of the online service.
In a letter to Musk’s legal representative, Twitter’s lawyers stated that his termination of the deal was “invalid and unlawful” from the company’s point of view. Contrary to Musk’s claims, Twitter did not violate the acquisition agreement, the published letter said. Musk, on the other hand, knowingly and intentionally violated the agreement with his withdrawal.
Musk announced on Friday that he was withdrawing from the agreement to buy Twitter for around $44 billion. To justify this, he referred to his previously unsubstantiated claims that Twitter had significantly more fake accounts than the company’s estimate of less than five percent. His lawyers argued, among other things, that Twitter failed to fulfill its contractual obligation to provide Musk with the necessary data access to verify the numbers.
Twitter has already announced that it wants to go to court at the company’s official headquarters in the state of Delaware. There, the Delaware Chancery Court can also order the completion of a takeover.
Source: Stern
Jane Stock is a technology author, who has written for 24 Hours World. She writes about the latest in technology news and trends, and is always on the lookout for new and innovative ways to improve his audience’s experience.
