Musk Sends Second Letter to Terminate Twitter Deal, Twitter Responds
Musk Sends Second Letter to Terminate Twitter Deal, Twitter Responds

Musk Sends Second Letter to Terminate Twitter Deal, Twitter Responds

31 august, 20221 minute to read
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Elon Musk's lawyers sent a second deal termination letter to Twitter, recent allegations made by a Twitter whistleblower Peiter “Mudge” Zatko.

The new letter expands the claims made by Musk in his first letter, which was sent ot Twitter in July.

In the new termination letter, Musks's lawyers argue that former Twitter head of security Zatko's allegations provided additional information on the company's violations, including its compliance with some laws. Zatko alleged Twitter had deceived regulators about its efforts to reduce spam and protect Twitter from security threats.

These allegations, if true, demonstrate that Twitter has breached the following provisions of the Merger Agreement, thereby giving the Musk Parties the right to terminate the Merger Agreement pursuant to its terms as more fully described below,

the letter runs.

In its turn, Twitter’s legal team responded by sending a letter to Musk’s legal representatives. Twitter said Musk’s termination case is 'invalid and wrongful under' the acquisition agreement.

Contrary to the assertions in your letter, Twitter has breached none of its representations or obligations under the Agreement, and Twitter has not suffered and is not likely to suffer a Company Material Adverse Effect,

the Twitter representatives responded.

The parties are set to meet in Delaware Chancery Court on October 17 to resolve the issue.

31 august, 2022
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