In a letter to Twitter, a lawyer for Musk called it a « clear material breach » of the terms of their merger agreement.
Elon Musk accused Twitter of « resisting and thwarting » his right to information about fake accounts on the platform, calling it a « clear material breach » of the terms of their merger agreement in a letter to the company on Monday.
« Mr. Musk reserves all rights resulting therefrom, including his right not to consummate the transaction and his right to terminate the merger agreement », the letter, signed by Skadden attorney Mike Ringler, says. Twitter shares were down 5% Monday morning. Musk wrote on Twitter last month that his $44 billion purchase of the company would not move forward until he had more information about the number of fake accounts on the service.
