Elon Musk to terminate billionaire contract with Twitter

On Monday, the 12th, we were all notified via Twitter that the claims that had been made by one of Tesla owner Elon Musk’s lawyers are invalid. In other words, they are being considered unfair as they will continue to enforce the proposed merger agreement.

Read more: Find out what a job interview with Elon Musk would look like

On the Friday before the statement, the rep that was sent by Musk talked about a payment of around $7 million that was made by Twitter to a whistleblower, something that ended up giving the billionaire even more ammunition to be able to definitively terminate the agreement.

Twitter, of course, also had its say, too, and responded by saying that it did not take any action that violated representation, let alone the obligation related to the $44 billion deal that Elon Musk is trying so hard to terminate. “This agreement has not yet been broken,” said the team responsible for the social network.

In June, Twitter agreed to pay a certain amount under a settlement with Peiter Zatko, who had been serving as the company’s head of security shortly before he was fired in January. This deal was concluded a few days before Zatko filed a complaint, in July, in which he accuses the company of not protecting its users’ data and also of lying about possible security problems.

This information came from the Wall Street Journal.

Twitter did not seek approval from – until then – prospective buyer Elon Musk before making the $7.75 million payment to Peiter Zatko and his lawyer. At least that’s what the representative of billionaire Mike Ringler of Skadden, Arps, Slate, Meagher & Flom LLP points out. He also claimed that the businessman learned about the payment when Twitter filed the separation agreement with Zatko in court, at which point Elon Musk was “fighting” with Twitter over being able to walk away from the agreement.

Musk goes all the way to drop out of contract

The first time the CEO of Tesla Motors tried to back out of the purchase of the platform was in July this year. He says that Twitter ended up corrupting information about trades and requested data about spam or bot accounts on the social networking platform.

The allegations were denied by Twitter representatives, which ended up triggering this lawsuit against Elon Musk, whose objective is for him to comply with the agreement in the terms that were defined. It is worth noting that a five-day non-jury trial was scheduled to begin on October 17 at the Delaware Chancery Court.

About Abhishek Pratap

Food maven. Unapologetic travel fanatic. MCU's fan. Infuriatingly humble creator. Award-winning pop culture ninja.

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