Elon Musk. Image Alliance / Getty Images
- Twitter is suing Elon Musk for trying to bring an end to its planned acquisition of the company.
- Musk said one reason he wants out is Twitter withholding information about the number of bot accounts on its platform.
- Twitter denied this, saying Musk did not read a summary it gave him of how it calculates bot numbers.
- For more stories go to www.BusinessInsider.co.za.
Twitter sued Elon Musk Tuesday, after the billionaire announced that he wants to terminate his intended acquisition of the company.
Musk’s lawyers notified the Securities and Exchange Commission on Friday, saying he wanted to terminate the agreementand said Twitter had not given him information on how it calculates the number of bots on its platform.
Twitter’s lawsuit aims to force Musk to buy the company for the agreed price of $ 44 billion. The question of whether Musk expressed concerns about bot numbers were legitimate is a key element in the legal battle between them.
Twitter said in its lawsuit that Musk began making more and more demands for information on how it measures the amount of spam and fake accounts on its platform.
Twitter said it “bent backwards” to give Musk the information he asked for, but that in one case he did not even look at it.
Twitter said Musk at a June 30 meeting with Twitter’s CFO Ned Segal admitted he had not looked at a summary he had been sent the previous month describing how the company tests the number of bots on its platform.
“Segal offered to spend time with Musk and review the detailed summary of Twitter’s sampling process that the Twitter team had done with Musk’s advisers. That meeting never took place despite several Twitter attempts,” the lawsuit states.
Elsewhere in the lawsuit, Twitter accused Musk of using the number of bots on the platform as a pretext to pull out and said he wanted out of the deal because his personal fortune had shrunk.
It also said Musk’s preoccupation with bot numbers did not make sense, as he had previously said that one of the reasons he wanted to buy Twitter was that get rid of spambots on the platform.
Musk first began talking publicly about bot numbers as a potential snag by the deal in May, when he tweeted that the agreement was “temporarily suspended” until the number of bot accounts on the platform could be verified.
Analysts wondered at the time when the tweet could be a trick to get one better price for Twitter or even go completely away from the deal.
Musk did not immediately respond when contacted by Insider.
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Twitter says Elon Musk admitted he did not read a summary, it sent him off how it samples bots
Source link Twitter says Elon Musk admitted he did not read a summary, it sent him off how it samples bots