The social network Twitter has branded this Tuesday as “invalid and illicit” the new attempt by tycoon Elon Musk to scrap his acquisition of the company, after he has cited complaints from the former Twitter security chief to add to the list of reasons for cancel the purchase.
In a letter to Musk’s lawyers dated Tuesday and disclosed to the Securities and Exchange Commission, Twitter has insisted that it plans to force Musk to go ahead with the acquisition, CNN has learned.
In this way, the company has responded to Monday’s letter written by Musk’s legal team in which the alleged bad practices of the social network were pointed out that would corroborate the company’s breach of the provisions of the purchase agreement. reached with the billionaire who, at the beginning of July, decided to cancel the acquisition of the multinational for 44,000 million dollars (44,124 million euros).
The complaints by the former security director of Twitter, published by ‘The Washington Post’, point to the multinational’s breach of its obligations regarding data privacy and consumer protection regulations, as well as the vulnerability of the network against data center failures and malicious attacks.
“These allegations, if true, demonstrate that Twitter has breached the provisions of the Merger Agreement, giving Musk the right to terminate it in accordance with its terms,” it concludes.
In early July, Musk told Twitter that he was renouncing the social network’s purchase contract after receiving no response from the company when requesting information about the number of fake accounts found on the platform, as well as how to the company to audit and suspend them.
A little earlier, in mid-May, the tycoon had already decided to temporarily suspend the purchase of Twitter, agreed at the end of last April for some 44,000 million dollars, pending details that would support the company’s calculation that fake accounts make up less than five percent of users.
At the end of July, Delaware Court of Chancery Judge Jude McCormick ruled that the trial for Elon Musk’s reversal of the Twitter purchase will be held next October.
On its side, Twitter called a vote for next September 13 in order for its shareholders to approve the original agreement for the sale of the company initially agreed with Elon Musk.
Twitter recorded losses of 270 million dollars in the second quarter of 2022, compared to the net profit of 65 million dollars recorded in the same period of 2021, while its income between April and June totaled 1,176.6 million dollars , down 1.1%, something the company attributed in part to “uncertainty related to the pending acquisition of Twitter by an affiliate of Elon Musk.”
Source: Europa Press