Elon Musk accuses Twitter of hiding data about spam accounts
- June 6, 2022
- 0
Elon Musk has asked Twitter management to provide more data on fake accounts on the platform. This is stated in a letter posted on the US Securities and
Elon Musk has asked Twitter management to provide more data on fake accounts on the platform. This is stated in a letter posted on the US Securities and
Elon Musk has asked Twitter management to provide more data on fake accounts on the platform. This is stated in a letter posted on the US Securities and Exchange Commission’s website.
“In fact, Twitter has refused to provide the information that Mr. Musk has repeatedly requested since May 9, 2022, to facilitate the assessment of spam and fake accounts on the platform. Twitter’s latest offering is to provide additional information on the company’s own testing methodologies. […] “It is tantamount to refusing a data request,” attorney Mike Ringler said.
According to the letter, the agreement provides for the transfer of requested data by the company for “any reasonable business purpose related to the completion of the transaction.” According to Musk, Twitter is “clearly waiving” the commitment amid concerns about the consequences of an independent evaluation of the data.
“[…] Mr. Musk reserves […] the right not to complete the transaction and the right to terminate the merger agreement, ”says the letter.
Twitter shares were down 3.34% at the opening of the trade on June 6. The current price is $38.82.
In early April, Musk bought a 9.2% stake for $2.89 billion, making it Twitter’s largest shareholder.
The entrepreneur, who offered to buy the social network for more than $43 billion on April 14, explained it not out of a desire to make money, but to create an “inclusive arena for freedom of speech.”
Twitter management initially did not consider the proposal and approved the takeover defense plan. But later the position was revised.
At the end of the month, the board of directors approved the sale of the company to Musk for $ 44 billion. One of their goals, the billionaire, described it as a victory over spambots.
On May 13, Tesla’s chairman announced that the deal to buy Twitter was put on hold after the media reported that the platform’s audience figures were inflated. He also accused social networking algorithms of manipulating users.
Recall that Twitter shareholders sued Musk and the social network itself over the “chaotic process” of the company’s takeover. In their view, the billionaire violated California state law by “sowing suspicion” in closing the deal.
Source: Fork Log
I’m Sandra Torres, a passionate journalist and content creator. My specialty lies in covering the latest gadgets, trends and tech news for Div Bracket. With over 5 years of experience as a professional writer, I have built up an impressive portfolio of published works that showcase my expertise in this field.