{"id":1626527,"date":"2022-08-30T08:49:01","date_gmt":"2022-08-30T12:49:01","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1626527"},"modified":"2022-08-30T09:07:29","modified_gmt":"2022-08-30T13:07:29","slug":"elon-musk-fires-off-letter-citing-further-evidence-as-to-why-twitter-merger-is-over","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/elon-musk-fires-off-letter-citing-further-evidence-as-to-why-twitter-merger-is-over\/","title":{"rendered":"Elon Musk Fires Off Letter Citing Further Evidence As To Why Twitter Merger Is Over"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">30<\/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%2Felon-musk-fires-off-letter-citing-further-evidence-as-to-why-twitter-merger-is-over%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=1626527&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>On Monday, Elon Musk filed an\u00a0<a href=\"https:\/\/www.sec.gov\/Archives\/edgar\/data\/0001418091\/000110465922095765\/tm2224790d1_sc13da.htm\" target=\"_blank\" rel=\"noopener\">amendment<\/a> with the Securities and Exchange Commission in order to cement his termination of his heretofore proposed purchase of Twitter.<\/p>\n<p>Musk made the filing to buttress his case for dissolving the merger, arguing that facts had come to light since his July 8 letter to Twitter terminating their merger agreement that would strengthen the termination in case the original letter were to be found invalid, as Twitter has contested the validity of the July termination notice.<\/p>\n<p>\u201cBecause the facts described in the August 29 Termination Letter were known to Twitter and withheld from the Reporting Person, and because Twitter has taken the position that the Merger Agreement remains in effect, the Reporting Person sent the August 29 Termination Letter on the basis of the facts described therein,\u201d Musk wrote to the SEC.<\/p>\n<p>Musk\u2019s attorneys also sent a letter to Vijaya Gadde, the chief legal officer of Twitter, in which they delineated the additional facts that had come to light. The letter noted the August 23, 2022 whistleblower report to Congress, the SEC, FTC, and DOJ. The report was filed by Peiter \u201cMudge\u201d Zatko, Twitter\u2019s former chief security officer, on July 6, 2022.<\/p>\n<p>\u201cThe Zatko Complaint alleges far-reaching misconduct at Twitter\u2014all of which was disclosed to Twitter\u2019s directors and senior executives, including Parag Agrawal\u2014that is likely to have severe consequences for Twitter\u2019s business,\u201d Musk\u2019s attorneys wrote.<\/p>\n<p>The attorneys cited allegations by Zatko, noting that \u201cTwitter was in material noncompliance with both its obligations under a 2011 FTC consent decree and its general obligations under data privacy, unfair trade practice, and consumer protection laws and regulations \u2026 Twitter is uniquely vulnerable to systemic disruption resulting from data center failures or malicious actors \u2026 Twitter\u2019s platform is built in significant part on the misappropriation and infringement of third party intellectual property, and Twitter acquiesced to demands made by the Indian government that its agents be hired by Twitter and given access to Twitter.\u201d<\/p>\n<p>The attorneys argued that the foregoing allegations, if true, showed Twitter has breached provisions of the merger agreement.<\/p>\n<p>\u201cFor the avoidance of doubt, these bases are in addition to, and not in lieu of, the bases for termination described in the July 8 Termination Letter,\u201d the attorneys concluded. \u201cAlthough the Reporting Person believes the August 29 Termination Letter is not legally necessary to terminate the Merger Agreement because he has already validly terminated it pursuant to the July 8 Termination Letter, the Reporting Person delivered the August 29 Termination Letter in the event that the July 8 Termination Letter is determined to be invalid for any reason.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"<p>On Monday, Elon Musk filed an\u00a0amendment with the Securities and Exchange Commission in order to cement his termination of his heretofore proposed purchase of Twitter. Musk made the filing to buttress his case for dissolving the merger, arguing that facts had come to light since his July 8 letter to Twitter terminating their merger agreement &#8230;<\/p>\n","protected":false},"author":1,"featured_media":1580713,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-1626527","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\/1626527","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\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1626527"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1626527\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/1580713"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1626527"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1626527"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1626527"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}