According to CNBC, Elon Musk’s attorney, Mike Ringler, sent a letter to the US Securities and Exchange Commission (SEC), explaining that the billionaire refused to buy Twitter for $44 billion. Against this background, shares of the social network fell by about 6%.

Ringler noted in his letter: “Twitter did not fulfill its obligations under the contract”. Yes, Twitter did not provide Musk with the business information he requested, even though it was written in the contract. It’s about the number of fake pages and spam accounts. They assured on Twitter that it was only 5% of the total number, with Musk himself believing it was much more – around 20%.

“Twitter was unable or refused to provide this information”, – said Ringler. – “Twitter sometimes ignored Mr Musk’s requests, other times rejected it for unreasonable reasons, and other times claimed it was appropriate to give Mr Musk incomplete information.”.

Twitter Head Bret Taylor said the company still plans to close the deal at the agreed price and plans to sue to enforce the deal. ” We are confident we will prevail in the Delaware court ‘, Taylor wrote.

Against the background of these events, the shares of the social network fell by about 6%, and the capitalization of Twitter fell to $ 28 billion. The desire of company representatives to continue the deal is understandable – the amount offered by Musk is now almost double the company’s capital.