According to a rumor, Twitter has hired a prestigious merger law firm to represent it in its lawsuit against Tesla CEO Elon Musk for withdrawing his $44 billion bid to acquire the business. According to Bloomberg on Sunday, the business has retained Wachtell, Lipton, Rosen & Katz LLP to defend it in a pending lawsuit. Due to the sensitive nature of the situation, sources who spoke to Bloomberg will not provide their names.
In a letter to Twitter on Friday, the Tesla CEO’s legal team said that the social media platform “appears to have made false and misleading claims” when Musk agreed to acquire the business on April 25 and had “breached” many terms of the original deal. Concerns have been expressed by Musk’s team over the presence of “spam bots” on the platform, and the CEO of Tesla has threatened to back out of the arrangement if the firm is unable to demonstrate that less than 5% of its daily active users are spam accounts that are automated.
According to Musk, Twitter severely undercounted the number of these “spam bots” using its platform. According to many reports at the time, Twitter gave Musk access to its “firehose” of unprocessed data on hundreds of millions of messages per day last month. Neither the business nor Musk, however, verified this.
During a meeting with executives on Thursday to discuss the company’s bogus and bot accounts, Twitter said that it eliminates 1 million spam accounts daily.
Spam accounts make up less than 5% of Twitter’s total active users, according to the company’s statement on the call.
IP addresses, phone numbers, and locations are examples of private data that isn’t accessible to the general public and isn’t included in the data “firehose” sent to Musk. According to Twitter, this sensitive information helps prevent falsely labeling actual accounts as spam. On Sunday, FOX Business asked Twitter, Tesla, and SpaceX for comments, but none of them answered right away. The story was neither confirmed nor denied by the Wachtell, Lipton, Rosen & Katz receptionist.
Source: Fox Business