Twitter announces federal investigation into Musk – CNN
- October 14, 2022
- 0
American billionaire Elon Musk, who was to buy Twitter Inc for $44 billion but later changed his mind, is under federal investigation over the collapse of the deal.
American billionaire Elon Musk, who was to buy Twitter Inc for $44 billion but later changed his mind, is under federal investigation over the collapse of the deal.
This is stated in court documents published by the Twitter company, reports Ukrinform with reference to CNN.
“Federal officials are investigating Elon Musk in connection with his $44 billion purchase of Twitter,” the company said in a statement.
At the same time, it was not specified which government agencies were involved in the investigation. However, it was noted that they were “examining their behavior” regarding the agreement regarding Musk’s purchase of the social platform.
Also, the company’s lawsuit accuses Musk’s legal team of failing to file a draft file on its side with the U.S. Federal Trade Commission as well as the Securities and Exchange Commission as part of the ongoing litigation. This is about the parties’ positions being considered in court over the question of whether Musk could withdraw from the previously announced Twitter Inc.
As reported, American billionaire Elon Musk offered Twitter Inc. in April to buy its shares in a deal for approximately $44 billion. However, after the negotiation process began, the businessman said he withdrew from the offer because the company violated agreements and provided false information.
It was said that the company management is trying to mislead about the number of users of the social network due to the large number of bots. Also, the conflict arose against the background of Twitter Inc paying the network’s former head of service and his lawyers millions of dollars in damages without Musk’s consent. The allegations from the billionaire were made by the company’s management in connection with the concealment of cases of violations of cybersecurity rules, including hacking of user accounts.
The company applied to the court regarding the dispute with the billionaire.
Last week, Musk offered Twitter Inc. to complete a deal to acquire the social platform on terms discussed earlier in the process. Thereupon, the judge in charge of the case decided to postpone the case until October 28, upon Musk’s suggestion.
Source: Ukrinform
I’m Maurice Knox, a professional news writer with a focus on science. I work for Div Bracket. My articles cover everything from the latest scientific breakthroughs to advances in technology and medicine. I have a passion for understanding the world around us and helping people stay informed about important developments in science and beyond.