As reported by Ukrinform, in a letter sent to Twitter, Musk’s lawyers allege that the social network failed to meet the terms of the contract.

“Mr. Musk, Twitter is terminating the merger agreement for materially violating many of the provisions of this agreement,” the letter states. At the same time, it was noted that “Mr. Musk made false and misleading statements that he trusted” during the company’s finalization.

Lawyers’ note: Despite numerous requests on Twitter about the number of bots, the social network “provided only incomplete data, which was not sufficient to make an independent assessment.” On Friday, Musk filed an application with the US Securities and Exchange Commission to formally withdraw from the deal.

At the same time, Twitter chairman Bret Taylor said that the company plans to finalize the deal with Musk, even if it has to settle the matter through court.

“Twitter’s board of directors plans to complete the transaction at a price and terms agreed with Mr. Musk and plans to go to court to enforce the merger deal,” – highlighted Taylor.

Twitter shares, which rose after Musk announced his plans to buy the company in April, fell nearly 6% on the news that Musk exited the deal, according to media reports.

Photo: DPA