Tech

Musk sends new letter to terminate $44bn Twitter deal

The world’s richest person, Elon Musk, has sent an additional letter of deal termination to Twitter after he subpoenaed a whistleblower seeking documents on how the social media company measures spam accounts.

Musk walked away from a $44 billion offer for Twitter in July saying the company misled him and regulators about the true number of spam or bot accounts on the microblogging platform.

According to a court filing on Monday, Musk has sought information from a whistleblower and former head of Twitter’s security Peiter Zatko mostly about the way the microblogging site measures spam account.

READ ALSO: Elon Musk: World needs more babies, oil

According to Reuters, a famed hacker known as “Mudge,” Zatko said in his complaint that became public last week that the company falsely claimed it had a solid security plan and prioritized user growth over reducing spam.

Following the disclosure, Musk’s legal team said allegations on certain facts, which were known to Twitter prior to July 8 but were not disclosed to them, have come to light that provide additional and distinct bases to end the deal.

The subpoena to Zatko comes in the run-up to a five-day trial at the Delaware Court of Chancery set to begin on October 17.

While Musk wants to terminate the deal, Twitter is asking Chancellor Kathaleen McCormick to order him to buy it for the agreed $54.20 per share.

Meanwhile, an additional termination notice dated August 29 was delivered in case the July 8 notice was determined to be invalid for any reason, according to a regulatory filing by Musk on Tuesday.

Twitter shares were down 2.5% at $39.02 before the bell.

The Star

Segun Ojo

Recent Posts

Wike appoints ex-Fayose’s spokesman, Lere Olayinka, as SSA

The Minister of the Federal Capital Territory (FCT), Nyesom Wike, has appointed Lere Olayinka as…

3 hours ago

Burna Boy, Wizkid, Davido, Tems, Asake nominated for Grammy Awards

Nigerian singers - Burna Boy, Wizkid, Tems, Yemi Alade, Asake, and Davido - have been…

3 hours ago

NSIB recovers black box of crashed helicopter in Rivers

The Nigerian Safety Investigation Bureau (NSIB) has recovered the Flight Data Recorder (FDR) and Cockpit…

3 hours ago

N10m extortion: IGP vows punishment for corrupt police officers

The Inspector-General of Police (IGP), Kayode Egbetokun, has condemned alleged extortions by some police officers…

9 hours ago

Kaduna govt earmarks N93bn to boost water supply

The Kaduna State Government has announced plans to spend N93 billion over four years for…

12 hours ago

Trump picks campaign manager as White House chief of staff

United States President-elect Donald Trump, on Thursday, November 7, 2024, announced that one of his…

12 hours ago

This website uses cookies.