refused “Twitter” attempt Elon Musk The last day to cancel the social network purchase deal, one day before the company’s shareholders voted on the $ 44 billion acquisition.
According to disclosure documents submitted to the regulator, the company’s lawyers said in a letter Monday that the billionaire’s attempt to withdraw from the deal was “false and flawed” and that “Twitter has not violated any of its duties or statement of facts. “
Musk said Twitter should have notified him before spending $ 7.75 million on a settlement agreement with former Twitter security chief Peter Zatko, which raised concerns about poor security, privacy violations and the number. of automated accounts on the platform.
Prior to that, Musk raised some concerns about the number of fake Twitter bot accounts, as well as the company’s decisions regarding hiring and firing, and said violations of the acquisition agreement should allow him to withdraw the offer. .
Session of 17 October
However, Twitter shareholders are likely to accept Musk’s offer and the court will decide in the next hearing on Oct. 17 whether he should continue and adhere to the offer he made.
In a statement released Monday, Wedbush Securities analysts Daniel Ives and John Katsingris said, “The approval of tomorrow’s shareholders formally sets the stage for the (Game of Thrones) battle between Musk and (Twitter) in the state courts of the Delaware with a greater likelihood that some form of negotiation will take place, in our view, before the October trial. “
Shares of Twitter fell 2% to $ 41.33 at 12:06 in New York and the stock has lost 4.4% of its value since the beginning of the year.
Zatko is expected to testify before the Senate Judiciary Committee in Washington, DC on Tuesday about his security breach allegations. He was also called to testify in the “Twitter” case.
Musk: Twitter’s payout to a whistleblower is one more reason to end the takeover deal
US Court of Justice attorney Kathleen Judd McCormick allowed Musk to add Zatko’s allegations of Twitter’s “egredi defects” to his legal basis, allowing the billionaire to claim material damages affecting the acquisition. due to Twitter’s failure to disclose Zatko’s reports.
McCormick, however, denied his request to postpone the trial date and that could affect Musk’s team’s time to uncover these allegations.
–
