Unite with Fellow Investors
Choose the Best Attorney
Follow Case Progress
id: 212, Created by Stan Vick, Scout
What do I get by joining?
- You will get case updates and receive a payout in case of success
- If you would like to actively participate, you will be connected to the attorney
- No, you do not pay anything out of your pocket neither to us nor to attorney
On August 29, 2022, Reuters reported that "Elon Musk has sent an additional letter of deal termination to Twitter Inc to include a recent whistleblower complaint from former security head of the social media firm as another reason to scrap the $44 billion deal.
Last week, Peiter Zatko, a famed hacker known as "Mudge", said in his complaint that Twitter prioritized user growth over reducing spam and falsely claimed it had a solid security plan.
If the allegation are true, then Twitter has breached some of the provisions of the merger agreement, Musk and his legal team said in a letter dated Aug. 29."
Twitter responded that in its regulatory filing the fresh termination notice was invalid and wrongful under the deal terms.
Indeed, taking into account that any violations alleged by the whistleblower were not investigated and proved yet, Musk had no right to manipulate this allegation and he just damaged current investors of Twitter.
Shock Event Date
29 August 2022