Elon Musk, CEO (CEO) of Tesla and SpaceX, has decided to withdraw from a $44 billion deal to buy Twitter, claiming that the company sued him over fake accounts and spam on the microblogging platform.
According to a filing with the Securities and Exchange Commission (SEC), Musk's lawyers said Twitter did not respond to requests for detailed information about the accounts needed to advance the company's business.
The recording also indicates that Twitter on several occasions ignored Musk's requests for information, while on some occasions he refused them without giving reasons.
The filing also states that Twitter not only violated several provisions of the merger agreement, but also made false and misleading allegations to persuade Musk to buy Twitter.
Twitter has not issued an official statement since Musk announced his withdrawal from the $44 billion deal. However, Twitter CEO Brett Taylor said the company will seek legal action against Elon Musk.
It is worth noting here that under a special clause in the multi-billion dollar agreement, Elon Musk is required to pay 1 billion to Twitter if he fails to keep the merger agreement.
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