Musk Threatens to Kill Twitter Deal Over Fake Account Data
Elon Musk accused Twitter of “actively resisting and thwarting his information rights,” as the Tesla founder attempts to get information about fake and spam accounts on the platform.
The accusation came in a letter Musk sent to Twitter Monday in which he warned he could walk away from the $44 billion deal to take over the company should Twitter not provide the information he seeks.
Musk further accused Twitter of a “clear material breach” of its obligation to provide the data.
“Musk believes Twitter is transparently refusing to comply with its obligations under the merger agreement, which is causing further suspicion that the company is withholding the requested data due to concern for what Musk’s own analysis of that data will uncover,” according to the letter.
“Twitter has, in fact, refused to provide the information that Mr. Musk has repeatedly requested since May 9, 2022, to facilitate his evaluation of spam and fake accounts on the company’s platform. Twitter’s latest offer to simply provide additional details regarding the company’s own testing methodologies, whether through written materials or verbal explanations, is tantamount to refusing Mr. Musk’s data requests,” the letter said.
The social media platform has not commented on Musk’s letter. Twitter stock tumbled over 5% in early trading Monday.
Some information in this report comes from Reuters.