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Elon Musk Sends Fresh Letter To Terminate $44Bn Twitter Deal

In SEC filing, Musk said his legal team notified Twitter of ‘additional bases’ for ending deal

Elon Musk, CEO of SpaceX and Tesla, has sent a letter to Twitter in which he outlines the reasons why he decided to back out of the previously agreed-upon buyout arrangement for the social media behemoth. The letter’s author, a multibillionaire tycoon, said that recent allegations made against the corporation by a leak had served as the main deterrent.

In the letter written to the head of Twitter’s legal department, Musk’s attorneys wrote that “Allegations about certain facts, known to Twitter prior to and as of July 8, 2022, but undiscovered to the Elon Musk Parties before too and at that time, have subsequently come to light, providing new and unique reasons to terminate the Merger Agreement.”

Former Twitter security chief Peiter Zatko has admitted that the firm has a number of issues with how it handles users’ personal information and security information. Additionally, he said that business leaders had attempted to hide information about security vulnerabilities.

The letter went on to say that as a result of Zatko’s allegation, which “alleges far-reaching misbehavior within Twitter,” it is anticipated that Twitter’s company would suffer a significant setback. It also referred to Zatko’s assertions that senior company managers have long been aware of the business’s “unique vulnerability to systemic disruption caused by data center failures or hostile actors” but “ignored and attempted to obscure” it.

The billionaire had earlier in July submitted a warning to the SEC, alleging that “Twitter really hasn’t fulfilled its contractual duties” and that it has attempted to “block and impede” his efforts to learn about how many robots or spams are operating on the site. Musk has also served Zatko with a subpoena about the same problem, requesting information from him about the company’s security flaws. The Delaware Chancery Court will host the Musk v. Twitter trial, which is set for October 17, 2022.

Source: Reuters, Opoyi

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Written by Alex Bruno

Alex is a writer with a passion for space exploration and a penchant for satirical commentary. He has written extensively on the latest discoveries in astronomy and astrophysics, as well as the ongoing efforts to explore our solar system and beyond. In addition to his space-related work, Alex is also known for his satirical writing, which often takes a humorous and irreverent look at contemporary issues and events. His unique blend of science and humor has earned him a dedicated following and numerous accolades. When he's not writing, Alex can often be found stargazing with his telescope or honing his comedic skills at local open mic nights.

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