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New reasons why Musk broke his deal with Twitter

 A U.S. regulator document revealed that American businessman Elon Musk had notified Twitter of the termination of the social network purchase transaction for a number of reasons other than those previously mentioned.

"On August 29, 2022, Elon Musk's advisers sent a letter to Twitter informing it formally that the notified entity (Musk) had terminated the purchase agreement for additional reasons other than those set out in the entity's letter to Twitter dated July 8, 2022 about the avoidance of the transaction."

Musk's spokesman said the new notice was sent to replace the one sent on July 8, 2022 if it was cancelled for any reason.

With regard to the new reasons cited in the new notification, Musk's spokesman noted the failure of Twitter to comply with its obligations under a 2011 ruling

  • as well as the failure to comply with general obligations regarding data privacy
  • unfair trading practices and consumer protection laws and regulations.
  • The speaker also drew attention to the possible failure of the social network system "Twitter"
  • and the violation of third-party intellectual property rights by "Twitter".

On July 9, billionaire Elon Musk said he had canceled his $44 billion deal to buy Twitter, adding that the social media company had failed to provide information about fake accounts on its platform.

A judge orders Twitter to provide the data requested by Elon Musk on "fake accounts"

A US judge asked Twitter to provide more data requested by one of the world's largest wealthy, Elon Musk, on the fake accounts, to enable him to review his accusations to the social media site.

Musk accuses the platform of lying about the size of fake accounts and fake messages spread on the social media site, and relied on this pretext to justify his reversal of a $44 billion agreement to buy the social network, unilaterally dissolving it in early July.

Musk called on Judge Catalin McCormick to ask Twitter to disclose data about the platform's users, calculation methods and performance criteria.

After hearing the parties, the judge assessed that it was "justified" to request "some additional data" from Twitter before next October's ruling.

She also asked the social media site for data related to 9,000 accounts that were employed to perform an audit of fake and fake accounts during the fourth quarter of 2021, in addition to enabling them to adopt methods to determine the accounts.

Twitter commented that this could violate data protection, and the judge imposed that a limited number of persons in law and data analysis should access it.

Judge Twitter also ordered more data on the group's performance indicator to determine the number of actual users.

The judge disagreed with the majority of Musk's claims because they were "grossly vague" and required "billions" of data.

"They cheated on me." Musk challenges Twitter to prove the percentage of fake accounts

Elon Musk challenged the Twitter manager for a public discussion and proof of the proportion of fake accounts on the social network, a point of contention raised by the American billionaire to withdraw his purchase offer.

  • "If Twitter simply offers its method of sampling 100 accounts and turns out to be real
  • then the transaction must continue under the original terms," Elon Musk wrote in a tweet.
  • "If their data submitted to the U.S. Securities and Exchange Commission 
  • (the U.S. Stock Market Regulatory Authority) is found to be materially false, this cannot be the case."

Elon Musk had signed a $44 billion agreement to buy the social network "Twitter", before he unilaterally withdrew from the deal in July.

He believes that Twitter has lied about the proportion of automated and fictitious accounts and even claims that the social network has "cheated", by increasing the number of monetizable accounts.

"I challenge Barag Agrawal (Twitter CEO) to publicly discuss the proportion of fake accounts on Twitter."

"Let him prove to the public that Twitter has less than 5 percent of fake or unwanted users daily."

A legal battle is under way. The trial is scheduled to begin on 17 October at the Chancery Court in Delaware, a court specializing in business law, lasting five days.

  1. Twitter has already sued Elon Musk, the planet's richest man
  2. to force him to fulfil his obligation under the signed agreement. 
  3. The latter counter-attacked the same court through a complaint requesting

the court to neutralize him from the agreement and to require Twitter to pay him compensation.

The shareholders were supposed to meet on Twitter on September 13 to allow or not the acquisition.