The conflict between Elon Musk and Twitter continues to grow.
Elon Musk has accused Twitter of lapses in user data protection.
Recently, the shareholders of Twitter company supported Musk’s deal.
Wellington. The tussle between Tesla CEO Elon Musk and micro-blogging site Twitter is increasing. In this sequence, Elon Musk filed a reply in the court and accused Twitter of committing fraud by hiding serious flaws in data security. Also, Elon Musk has asked the court to allow him to annul the $44 billion deal between himself and Twitter. Elon Musk has filed a response amending his earlier lawsuit, adopting the Twitter whistleblower’s allegations. The CEO of electric vehicle maker Tesla also alleged on Twitter that the company concealed from him that it was not complying with a 2011 agreement with the Federal Trade Commission regarding user data.
Needless to say, the new revelations make it clear beyond controversy that Elon Musk has every right to exit the deal, said the new countersuit filed by Elon Musk. In fact, Twitter now wants the court to order Elon Musk to buy the company for $54.20 a share. The hearing of the case will start from October 17. Twitter shares were up 0.6% in late Thursday trading. Twitter said it conducted an internal investigation into Jatco’s allegations and determined they lack merit. The company said that Zatco was fired for poor performance.
Twitter’s lawyers told the court that the whistleblower’s claim that Musk got involved in his case failed to meet the standard of fraud, which was not grounds to terminate the deal. Let us tell you that Twitter’s shareholders supported Elon Musk’s deal in a recent meeting. Elon Musk is trying to get out of this deal.
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First Published: September 16, 2022, 03:11 IST