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Elon Musk accused Twitter of concealing data on spam accounts
Elon Musk turned to the leadership of Twitter demanding to provide more data on fake accounts on the platform. This is stated in a letter published on the website of the US Securities and Exchange Commission.
“In fact, Twitter refused to transmit information that Mr. Musk has repeatedly requested from May 9, 2022 to facilitate the assessment of spam and fake accounts on the platform. The last Twitter proposal is simply to provide additional information about the company’s own methodologies […] is tantamount to refusal in the data request, ”said lawyer Mike Ringler.
According to the letter, the agreement provides for the transfer of the requested data for “any reasonable business goals related to the completion of the transaction”. According Сингапурский закон to the mask, Twitter “clearly refuses” the obligations due to fears regarding the results of an independent data assessment.
“[…] Mr. Musk reserves […] the right not to complete the deal and the right to terminate the merger agreement,” the letter says.
At the opening of a trading on June 6, Twitter shares fell by 3.34%. The current price is $ 38.82.
In early April, Musk became the largest shareholder of Twitter after the acquisition of 9.2% of the shares for $ 2.89 billion.
April 14, he offered to buy a social network for more than $ 43 billion. The entrepreneur explained this by the intention to create an “inclusive arena for freedom of speech”, and not a desire to make money.
Initially, the leadership of Twitter did not appreciate the proposal and approved a plan for protection against absorption. However, later revised the position.
At the end of the month, the board approved the sale of the company Mask for $ 44 billion. One of his goals, the billionaire called the victory over spam bots.
On May 13, the head of Tesla announced the suspension of the Twitter acquisition transaction after the media reported about the overestimation of the audience of the platform. He also accused the social networks of manipulating users.
Recall, Twitter shareholders sued the mask and the social network itself due to the “chaotic process” of the company’s absorption. In their opinion, the billionaire violated the laws of the state of California, “sowing doubts” in the closure of the transaction.