Author: Jacob Kastrenakes
Musk claims the company is in breach of contract. | Illustration by Kristen Radtke / The Verge; Getty Images
Elon Musk is officially trying to pull out of his $44 billion agreement to purchase Twitter. In a filing Friday afternoon with the Securities and Exchange Commission, Musk’s team claims he is terminating the deal because Twitter was in “material breach” of their agreement and had made “false and misleading” statements during negotiations.
“For nearly two months, Mr. Musk has sought the data and information necessary to ‘make an independent assessment of the prevalence of fake or spam accounts on Twitter’s platform,’” Musk’s legal team writes. “Twitter has failed or refused to provide this information.”
Twitter still hopes to close the deal, despite Musk’s attempted termination. Twitter board chairman Bret Taylor wrote that the company...
Continue reading…
Continue reading...
Musk claims the company is in breach of contract. | Illustration by Kristen Radtke / The Verge; Getty Images
Elon Musk is officially trying to pull out of his $44 billion agreement to purchase Twitter. In a filing Friday afternoon with the Securities and Exchange Commission, Musk’s team claims he is terminating the deal because Twitter was in “material breach” of their agreement and had made “false and misleading” statements during negotiations.
“For nearly two months, Mr. Musk has sought the data and information necessary to ‘make an independent assessment of the prevalence of fake or spam accounts on Twitter’s platform,’” Musk’s legal team writes. “Twitter has failed or refused to provide this information.”
Twitter still hopes to close the deal, despite Musk’s attempted termination. Twitter board chairman Bret Taylor wrote that the company...
Continue reading…
Continue reading...