According to the latest developments in Elon Musk vs. Twitter: The mogul stated that his $44Billion deal to purchase Twitter will be renegotiated if Twitter can verify how it determines bot activity on the platform. NBC News.
Musk made public last month his decision to renegotiate the April deal. Twitter was quick to sue. Musk claimed in an SEC filing, that the company failed to disclose information regarding the number of spam users it hosts and the fake accounts they host. Musk failed to push back when a Delaware judge set an October trial date.
“If Twitter simply provides their method of sampling 100 accounts and how they’re confirmed to be real, the deal should proceed on original terms,”Musk wrote the following in a tweet that has since been deleted NBC News. “However, if it turns out that their SEC filings are materially false, then it should not.”
According to regulatory filings made by Twitter, the platform is in compliance with all applicable laws. Bot activity kept lowBelow 5% for all accounts since 2013. After the announcement of the takeover, “temporarily on hold,” Musk TweetHe and his team would do a “random sample”Test that statistic with 100 Twitter followers using the handle @twitter
Bret Taylor, Twitter chairman was elected on August 4. ShareThe company had I filed a reply to Musk’s countersuit.
“His claims are factually inaccurate, legally insufficient, and commercially irrelevant,”Taylor tweeted. “We look forward to the trial in the Delaware Court of Chancery.”
