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Musk threatens to scrap deal as Twitter fails to deliver data

IFM_ElonMusk Twitter deal-image
Twitter must prove the userbase has less than 5% fake accounts.

In a letter to Twitter, Elon Musk has threatened to terminate his deal with the company. The letter accuses Twitter of not providing data on the number of spam and fake accounts present on the microblogging platform.

He said that Twitter is not providing him with the necessary data to facilitate an evaluation of the number of spam accounts there are.

On Monday, a letter to Twitter’s Chief Legal Officer Vijaya Gadde was disclosed in a regulatory filing. Musk’s lawyer Mike Ringler stated that he has a right to the requested data. This information will help further finance the $44 billion deal.

He even said that Musk reserves all rights arising from this material breach of merger agreement duties, including the right not to finalize the acquisition and cancel the merger agreement.

A Twitter spokesperson has said that the company will continue to share the necessary information with Musk to ensure the merger.

Texas Attorney General Ken Paxton announced an investigation into Twitter on Monday, alleging that the business may have falsely reported its bogus bot accounts in violation of the Texas Deceptive Trade Practices Act.

Paxton’s office has demanded documents detailing how Twitter calculates and handles its user data and how that data connects to its advertising businesses. Twitter has until June 27 to reply to Paxton’s demands.

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