In a letter from Musk’s attorneys, the tycoon’s legal team warns that Twitter’s conduct to date leads Musk to believe it is “actively resisting and thwarting its information rights under the merger agreement.”
Elon Musk has warned that it reserves the right to “not complete” the $41,041 million transaction to take over Twitter given the company’s resistance to meeting its demands for information about fake user accounts, “spam” and “bots.” ‘ in what it considers a violation of the obligations of the owner of the social network.
In a letter from Musk’s attorneys and published by the United States Securities Market Commission (SEC), the tycoon’s legal team warns that Twitter’s behavior thus far makes Musk believe that “it is actively resisting and protecting your information rights under the merger agreement.” beats.”
“This is a clear material breach of Twitter’s obligations under the merger agreement and Mr. Musk reserves all rights arising therefrom, including his right not to complete the transaction and his right to terminate the merger agreement,” they cautioned.
Last 13 Maythe businessman decided temporarily suspend the purchase Twitter is waiting for more details on the proportion of fake accounts and ‘bots’ relative to the social network’s total number of active users, though it claimed to be “still committed to the takeover”.
Twitter explained that after an internal review of a sample of accounts, it estimated that the average number of fake or “spam” accounts in the first quarter of 2022 “represented less than 5%” of active monthly users in the quarter.
However, Twitter admitted that the estimate of fake or “spam” accounts “may not accurately reflect the true number of such accounts”, admitting that the true number of fake or “spam” accounts active on the social media network” could be more higher than estimated.
When presenting the results for the first quarter of last year April 28Twitter admitted a flaw in which it overestimated its monetized active daily users by nearly two million accounts from Q1 2019 to Q4 2021.
The company thereby reduced its monetized active daily users to 214.7 million by the end of 2021, compared to the originally estimated 216.6 million.
This is the second time Twitter has admitted a similar miscalculation in one of the variables the market most tracks, after discovering in 2017 that it had overestimated its active users for three years.
(function(d, s, id) {
var js, fjs = d.getElementsByTagName(s)[0];
if (d.getElementById(id)) return;
js = d.createElement(s); js.id = id;
js.src = “//connect.facebook.net/es_ES/sdk.js#xfbml=1&version=v2.8”;
fjs.parentNode.insertBefore(js, fjs);
}(document, ‘script’, ‘facebook-jssdk’));
Source: EITB
I’m Wayne Wickman, a professional journalist and author for Today Times Live. My specialty is covering global news and current events, offering readers a unique perspective on the world’s most pressing issues. I’m passionate about storytelling and helping people stay informed on the goings-on of our planet.
