Fri. Apr 19th, 2024

Elon Musk Calls It Quits on $44 Billion Twitter Deal<!-- wp:html --><p>Dimitrios Kambouris/Getty Images</p> <p>Elon Musk has tried to cancel his $44 billion bid to buy Twitter, according to a <a href="https://www.sec.gov/Archives/edgar/data/1418091/000110465922078413/tm2220599d1_ex99-p.htm">letter filed by his lawyers</a> Friday. </p> <p>He’s claiming the company is in “material breach” for making “false and misleading” statements throughout the process. Musk’s lawyers wrote that Twitter has failed to produce critical data about spam and bot accounts.</p> <p>“For nearly two months, Mr. Musk has sought the data and information necessary to ‘make an independent assessment of the prevalence of fake or spam accounts on Twitter’s platform,’” Musk’s lawyers wrote. “Twitter has failed or refused to provide this information.”</p> <p><a href="https://www.thedailybeast.com/elon-musk-calls-it-quits-on-dollar44-billion-dollar-twitter-deal?source=articles&via=rss">Read more at The Daily Beast.</a></p><!-- /wp:html -->

Dimitrios Kambouris/Getty Images

Elon Musk has tried to cancel his $44 billion bid to buy Twitter, according to a letter filed by his lawyers Friday.

He’s claiming the company is in “material breach” for making “false and misleading” statements throughout the process. Musk’s lawyers wrote that Twitter has failed to produce critical data about spam and bot accounts.

“For nearly two months, Mr. Musk has sought the data and information necessary to ‘make an independent assessment of the prevalence of fake or spam accounts on Twitter’s platform,’” Musk’s lawyers wrote. “Twitter has failed or refused to provide this information.”

Read more at The Daily Beast.

By