Elon Musk in a new letter to Twitter cited allegations made by the company’s former head of security, Peiter Zatko, as justification for abandoning his takeover plan, originally announced in early July.
Additional arguments, but not necessary
Mr. Ringler discusses accusations made by Peiter “Mudge” Zatko, the former head of security at Twitter, who attacked the platform’s flawed cybersecurity and accused executives of lying about ways to combat fake accounts and spam. .
The claims by Zatko, who is presenting himself as a whistleblower, were sent to two US regulators, as well as the Justice Department.
The lawyer for the head of Tesla specifies that these new elements are not, according to him, necessary to justify the breach of contract, but they constitute additional arguments “in the event that the notification of breach of July 8 were considered null, whatever “. be the reason.
Mr. Musk has also filed a document with the US stock exchange policeman, the SEC, advising it of additional reasons justifying the abandonment of the acquisition.
Peiter Zatko agreed to testify for Elon Musk
In early July, Musk announced that he would break the acquisition deal with Twitter’s board of directors, accusing the company of failing to honor its commitments by failing to report the exact number of spam and inauthentic accounts.
This decision had led Twitter to sue the billionaire businessman to force him to comply with the terms of the agreement. A trial, which should last 5 days, will begin on October 17 before a specialized court in Delaware.
Musk’s legal team has asked Zatko to provide documents and testify in these proceedings, a request accepted by the former Twitter official’s attorneys.
According to Dan Ives of Wedbush Securities, Zatko’s charges, weeks away from trial, are potentially “a huge win for Musk that could further complicate Twitter’s case.”
For the analyst, this development is likely to push the two parties to negotiate and find a compromise before October 17, which could take the form of an acquisition of Twitter by Musk at a lower renegotiated price.
Source: BFM TV
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