{"id":1505337,"date":"2022-06-06T13:06:07","date_gmt":"2022-06-06T17:06:07","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1505337"},"modified":"2022-06-06T13:06:13","modified_gmt":"2022-06-06T17:06:13","slug":"clear-material-breach-of-twitters-obligations-elon-musk-demands-answers-about-fake-twitter-accounts-threatens-to-exercise-right-to-cancel-deal","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/clear-material-breach-of-twitters-obligations-elon-musk-demands-answers-about-fake-twitter-accounts-threatens-to-exercise-right-to-cancel-deal\/","title":{"rendered":"\u2018Clear Material Breach Of Twitter\u2019s Obligations\u2019: Elon Musk Demands Answers About Fake Twitter Accounts, Threatens To Exercise \u2018Right\u2019 To Cancel Deal"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"float:left\"><div class=\"counts mashsbcount\">42<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fclear-material-breach-of-twitters-obligations-elon-musk-demands-answers-about-fake-twitter-accounts-threatens-to-exercise-right-to-cancel-deal%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1505337&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p>Elon Musk\u2019s legal team is accusing Twitter of violating its deal with the richest man on earth by withholding information about the number of bots on the platform, claiming that Musk is within his rights to terminate the agreement if the company does not provide the requested data.<\/p>\n<p>In late April, Twitter and Musk <a href=\"https:\/\/www.dailywire.com\/news\/breaking-twitter-announces-deal-with-elon-musk\">agreed<\/a> to a deal worth $44 billion, but Musk had previously requested information on fake accounts before his purchase of Twitter can officially go through.\u00a0 He has claimed that spam accounts could have a massive impact on what Twitter is actually worth. On Monday, the Space X founder took his demands a step further by sending Twitter a detailed letter through his attorney.<\/p>\n<p>\u201cAs Twitter\u2019s prospective owner, Mr. Musk is clearly entitled to the requested data to enable him to prepare for transitioning Twitter\u2019s business to his ownership and to facilitate his transaction financing,\u201d Musk\u2019s attorney Mike Ringler <a href=\"https:\/\/www.sec.gov\/Archives\/edgar\/data\/1418091\/000110465922068347\/tm2217761d1_ex99-o.htm\">wrote<\/a> in the letter filed with the SEC.<\/p>\n<p>\u201cTo do both, he must have a complete and accurate understanding of the very core of Twitter\u2019s business model\u2014its active user base. In any event, Mr. Musk is not required to explain his rationale for requesting the data, nor submit to the new conditions the company has attempted to impose on his contractual right to the requested data,\u201d <a href=\"https:\/\/www.sec.gov\/Archives\/edgar\/data\/1418091\/000110465922068347\/tm2217761d1_ex99-o.htm\">he<\/a> continued. \u201cAt this point, Mr. Musk believes Twitter is transparently refusing to comply with its obligations under the merger agreement, which is causing further suspicion that the company is withholding the requested data due to concern for what Mr. Musk\u2019s own analysis of that data will uncover.\u201d<\/p>\n<p>Ringler also noted that Musk is confused why Twitter would not hand over the requested information in the first place if it is being truthful in its business dealings.<\/p>\n<p>\u201cIf Twitter is confident in its publicized spam estimates, Mr. Musk does not understand the company\u2019s reluctance to allow Mr. Musk to independently evaluate those estimates,\u201d Ringler added. \u201cAs noted in our previous correspondence, Mr. Musk will of course comply with the restrictions provided under Section 6.4, including by ensuring that anyone reviewing the data is bound by a non-disclosure agreement, and Mr. Musk will not retain or otherwise use any competitively sensitive information if the transaction is not consummated.\u201d<\/p>\n<p>Finally, Ringler let Twitter know that Musk could back out of the deal if his wishes were not respected.<\/p>\n<p>\u201cBased on Twitter\u2019s behavior to date, and the company\u2019s latest correspondence in particular, Mr. Musk believes the company is actively resisting and thwarting his information rights (and the company\u2019s corresponding obligations) under the merger agreement,\u201d Ringler remarked. \u201cThis is a clear material breach of Twitter\u2019s obligations under the merger agreement and Mr. Musk reserves all rights resulting therefrom, including his right not to consummate the transaction and his right to terminate the merger agreement.\u201d<\/p>\n<p>Musk has previously noted that the actual number of fake Twitter users could be much higher than what the company claims.<\/p>\n<p>\u201c20% fake\/spam accounts, while 4 times what Twitter claims, could be *much* higher,\u201d he <a href=\"https:\/\/www.dailywire.com\/news\/musk-doubt-about-spam-accounts-could-kill-twitter-deal\">wrote<\/a> on Twitter in May. \u201cMy offer was based on Twitter\u2019s SEC filings being accurate. Yesterday, Twitter\u2019s CEO publicly refused to show proof of <5%><\/5%><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Elon Musk\u2019s legal team is accusing Twitter of violating its deal with the richest man on earth by withholding information about the number of bots on the platform, claiming that Musk is within his rights to terminate the agreement if the company does not provide the requested data. In late April, Twitter and Musk agreed &#8230;<\/p>\n","protected":false},"author":326,"featured_media":1482909,"comment_status":"open","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-1505337","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1505337","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/326"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1505337"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1505337\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/1482909"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1505337"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1505337"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1505337"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}