Facebook Twitter YouTube SoundCloud RSS
 

Elon Musk Threatens to End Twitter Deal Over ‘Material Breach’


Sara Carter reports…

Self-proclaimed free-speech absolutist Elon Musk tweeted in May that his deal to buy Twitter was “temporarily on hold” until the company could prove accounts belonging to spam bots accounted for less than 5% of all users.

Musk is upping the ante, accusing Twitter of being in “material breach” of its deal obligations. The warning was delivered in a letter from Musk’s attorneys to Twitter’s legal officer, Vijaya Gadde.

The letter stated Musk reserved all rights to terminate the acquisition if the company did not present the details requested about the bot accounts. Not providing the information was a “clear material breach” it reiterated.

In a statement, Twitter responded that it planned to enforce the completion of the deal on the agreed terms: “Twitter has and will continue to cooperatively share information with Musk to consummate the transaction in accordance with the terms of the merger agreement.”

Musk has stated his belief that spam bots account for at least 20% of Twitter users, while independent researchers projected the number around 9% to 15%. Musk said he needs the data from Twitter in order to conduct his own analysis because he does not believe in the company’s “lax testing methodologies.”

Reuters reports:

To be sure, Musk may be able to walk away or renegotiate the deal even if the law is on Twitter’s side. This is because any litigation is likely to be protracted, and Twitter may decide it makes more sense to agree to a lower price or receive compensation from Musk rather than try to force him to complete the transaction in court.

SEE MORE BIG TECH NEWS AT: 21st Century Wire Big Tech Files

PLEASE HELP SUPPORT OUR INDEPENDENT MEDIA PLATFORM HERE

Restore Your Health - Clive de Carle's Natural Vitamin & Mineral Supplements
Get Clive de Carle'sNatural Health essentials of the finest quality, including vitamin & mineral supplementshere.