MILAN – Twitter must provide fake account data a Elon Musk or the acquisition agreement is in danger of skipping. Tesla’s number one reiterated this in a communication to the SEC, in which Musk claims that the company’s refusal to provide the requested account information is a violation of the merger agreement.
In the communication to Sec Musk attaches the letter sent on June 6 to Twitter. “Twitter has refused to provide the information repeatedly requested by Musk since May 9 to facilitate his assessment of the platform’s spam or fake accounts. Twitter’s latest offer to offer details on the methodologies it uses is equivalent to a refusal” to comply with the platform. Musk’s request, the letter reads. “Twitter’s efforts to characterize” the request otherwise is “just an attempt to obfuscate and confuse. Musk has made it clear that he does not believe the company’s methodologies are adequate. The data he has requested is necessary,” continues the letter.
In the Italian afternoon, the replica of the social network arrives. Twitter “will continue to cooperate in sharing information with Musk” to close the transaction. “We intend to close the transaction and apply the deal at the set price” of the merger, adds the chirping company.
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In early May, Musk said he would put the deal “temporarily on hold,” pending the social media company to provide data on the percentage of his fake accounts. “Musk believes Twitter is transparently refusing to comply with its obligations under the merger agreement, which is raising suspicion that the company is withholding requested data due to concern about what the analysis is. Musk himself will reveal such data, “the letter reads. “Musk believes the company is actively resisting and obstructing its information rights,” reads the letter from Musk’s attorneys.
The possible setback to the deal hit Twitter stock on Wall Street, which loses more than five percentage points in startup.