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Elon Musk says Twitter deal could move ahead with ‘bot’ info

Elon Musk said Saturday that his planned $44 billion acquisition of Twitter should move forward if the company can confirm some details about how it measures whether user accounts are “spam bots” or real people. The billionaire and Tesla CEO tried to push back. April deal to buy the social media company, which prompted Twitter to sue him last month to complete the acquisition. Musk sued, accusing Twitter of misleading his team about the true size of its user base and other issues that he said constituted fraud and breach of contract. Both sides are headed to trial in October in a Delaware court. sampling of 100 accounts and how they are confirmed to be real, the deal should proceed on original terms,” ​​Musk wrote early Saturday. “However, if it turns out that your filings with the SEC are materially false, then it should not” Twitter declined to comment Saturday. The company has repeatedly disclosed to the Securities and Exchange Commission an estimate that less than 5% of user accounts are fake or spam, with a disclaimer that it could be higher. Musk waived his right to a greater diligence when it signed the April merger agreement. Twitter has argued in court that Musk is deliberately trying to scuttle the deal because market conditions have deteriorated and the acquisition no longer serves its interests. In a court filing filed Thursday, it describes its counterclaims as an imagined story “contradicted by evidence and common sense”. of those alleged representations,” the company’s lawyers wrote girl

Elon Musk said Saturday that his $44 billion purchase of Twitter should move forward if the company can confirm some details about how it measures whether user accounts are “spam bots” or real people.

The billionaire Tesla CEO tried to back out of his April deal to buy the social media company, prompting Twitter to sue him last month to complete the takeover. Musk sued, accusing Twitter of misleading his team about the true size of its user base and other issues that he said amounted to fraud and breach of contract.

Both sides are headed to trial in October in a Delaware court.

“If Twitter simply provides its method of sampling 100 accounts and how they are confirmed to be real, the deal should continue on original terms,” ​​Musk wrote early Saturday. “However, if it turns out that your filings with the SEC are materially false, then you shouldn’t.”

Twitter declined comment Saturday. The company has repeatedly disclosed to the Securities and Exchange Commission an estimate that less than 5% of user accounts are fake or spam, with a disclaimer that it could be higher. Musk waived his right to greater due diligence when he signed the April merger agreement.

Twitter argued in court that Musk is deliberately trying to void the deal because market conditions have deteriorated and the acquisition no longer serves its interests. In a court filing Thursday, he described his counterclaims as a made-up story “contradicted by evidence and common sense.”

“Musk makes up representations that Twitter never made and then tries to selectively use the extensive confidential data that Twitter has provided him to conjure up a breach of those alleged representations,” the company’s lawyers wrote.

Elon Musk says Twitter deal could move ahead with ‘bot’ info Source link Elon Musk says Twitter deal could move ahead with ‘bot’ info

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