In the month of April SpaceX CEO Elon Musk announced buying his favourite microblogging platform Twitter for a whopping amount of $44 billion. According to Reuters, Elon Musk wants to back off the $44 billion Twitter deal. Twitter announced that it would deal with the matter legally.
On Friday afternoon, Elon Musk’s team informed the Securities and Exchange Commission that Twitter had done a “material breach” in the agreement and also, in negotiations, made “false and misleading” statements.
Twitter Will Face Elon in the Courtroom
Recently, Elon Musk had sought the data for fake Twitter accounts and wanted clarification from the platform.
As The Verge mentioned, the official statement from Musk’s team made things clear, “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, but Twitter has failed or refused to provide this information.”
After buying it, Musk announced that they will remove all the fake and spam accounts of Twitter, and for the same process, he sought data from Twitter, but it didn’t provide it, which showed as Twitter is misleading about its fake and spam accounts.
Another reason for not going by the deal might be that Twitter has recently been sued and fined around dollar150 Million by the US Government for privacy issues of its users. Privacy is something that every platform should respect.
Facebook and Google have also been sued on the grounds of the privacy of users. Twitter also seems to take action against it and said their team to tweeting something regarding it. let’s check out the official tweer from Twitter board chairman, Bret Taylor
In the tweet, Bret confirmed to ending the deal and detailed that they are also ready to fight legally in the Delaware Court of Chancery. The deal could have been a game-changer for both Twitter and Elon Musk but it was facing criticism and at the same time support from others. In gist, the deal was getting mixed opinions from users worldwide.
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