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Musk accuses Twitter of violating takeover agreement

Musk accuses Twitter of violating takeover agreement

Zatko and his lawyers received $7.75 million from Twitter. Musk’s lawyers accuse the company that under the takeover agreement, it should have asked Musk to agree to these unusual expenses.

Musk announced his $44 billion acquisition of Twitter in April, and the two sides signed an agreement that same month. But in early July, Musk dropped the deal due to “false and misleading” information from the SMS service.

The background is the number of spam or fake accounts on Twitter. Musk accuses Twitter of overestimating the actual number of users. Twitter rejects Musk’s allegations and insists on completing the acquisition.

Zatko plays a central role in the lawsuit. In a report to the US Securities and Exchange Commission, the Department of Justice and the US Competition Authority, the former Twitter security chief spoke of “serious and shocking weaknesses” in the online service. The former employer is also accused of misrepresenting the number of employees. Twitter denies the allegations.

The actual trial in the acquisition dispute between Musk and Twitter begins on October 17 in a specialized court in the state of Delaware on the east coast of the United States. Musk is the richest person in the world with a fortune of more than $270 billion.

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