New letter from Elon Musk on termination of Twitter acquisition deal

Elon Musk’s legal professional, Mike Ringler, wrote a brand new letter on August 29 concerning the deal to purchase Twitter, in keeping with a discover to the U.S. Securities and Alternate Fee (SEC).

Twitter reportedly violated some phrases of the settlement

Within the letter, which drew consideration to Zatko’s allegations, it was famous that if these have been true, Twitter violated some of the provisions of the settlement.

The letter reportedly said that the allegations offered further and particular grounds for termination of the settlement.

It was additionally reported that Musk requested info from the corporate’s former head of safety, Zatko, on Twitter’s methodology of measuring ‘spam’ accounts.

Twitter’s former safety chief filed a felony criticism

Zatko, Twitter’s former head of safety, filed a felony criticism as a whistleblower, alleging that the corporate misled federal officers about spam and bot accounts.

In Zatko’s felony criticism, it was claimed that Twitter prioritized the rise within the quantity of customers as a substitute of decreasing the quantity of spam accounts, and that the directors acquired bonuses of as much as 10 million {dollars} because of the improve within the quantity of every day customers.

Twitter, on the opposite hand, denied the allegations within the felony criticism.

Elon Musk introduced on July 8 that he had terminated the deal to purchase Twitter, citing the violation of a number of provisions.

Musk’s legal professionals said in a press release to the US Securities and Alternate Fee (SEC) that Twitter didn’t reply or refused to answer a number of requests for details about faux or spam accounts on the platform, which is necessary to the corporate’s enterprise efficiency.

Twitter, on the opposite hand, sued Musk for terminating the deal. Twitter’s lawsuit towards Musk will start on October 17.