Billionaire Elon Musk has again threatened to cancel the Twitter purchase agreement if the company does not report the true amount of fake accounts on the platform. In a letter sent to the social network’s executives, the Tesla owner accuses Twitter of not contributing to transparency.
“Twitter has, in fact, refused to provide the information that Musk has repeatedly requested since May 9, 2022 to facilitate his assessment of spam and fake accounts on the company’s platform. Twitter’s latest offer to simply provide additional details about the company’s own testing methodologies, whether through written materials or verbal explanations, amounts to refusing Musk’s requests for data.” billionaire’s legal
In the text, Musk reiterates that he does not believe in the methodology used by Twitter to count fake accounts and accuses the company of trying to “obfuscate and confuse” the issue.
Information is provided for in the contract
The businessman points out that the initial purchase agreement already provided that information and data about the social network could be requested. “[…] Musk has the right to seek, and Twitter is obligated to provide information and data for, among other things, ‘any reasonable business purpose related to the consummation of the transaction’.
The document also points out that the platform must cooperate so that it is possible to finance the debt that will guarantee the purchase of the company.
“Anyway, Mr. Musk is not obliged to explain its justification for requesting the data, nor to submit to the new conditions that the company has tried to impose on its contractual right to the requested data. At this point, Musk believes that Twitter is transparently refusing to fulfill its obligations under the merger agreement, which is causing further suspicion that the company is withholding the requested data due to concern over what Musk’s own analysis of this data will reveal”, punctuate the representatives of the richest man in the world.