Elon Musk Writes Twitter To Formally End Their $44B Deal

Tesla Boss; Elon Musk has formally written to Twitter to end their $44 billion merger agreement, documents from the SEC have revealed, citing ‘certain facts’ he claims he was not aware of when he first stated his intention to pull out on July 8.

According to SEC records, Musk sends Twitter the letter to formally terminate their $44 billion merger agreement following explosive allegations made by its former security chief Peiter Midge Zatkoff.

This comes It comes after the Tesla and SpaceX CEO’s lawyers subpoenaed a former security chief at Twitter who claimed company executives knew about the site’s lax security and provided the public with false statements.

Peiter Zatko, who goes by the nickname Mudge in the hacking community, filed a damning whistleblower complaint last month alleging the social media giant was not forthcoming to the public and Musk about its security practices.

He accused Twitter of years of ‘material misrepresentation and omissions’ about security and privacy protections, claiming company executives have ‘lied’ about the number of spam or bot accounts.

The company has strongly denied these claims, but Musk’s legal team is now asking Zatko to appear for a deposition on September 9 in the billionaire’s ongoing legal battle to back out of his $44 billion takeover of Twitter.

Lawyers have also requested further information on any reports about privacy vulnerabilities that Zatko may have sent to Twitter CEO Parag Agrawal or other top employees and are asking the company to provide more information about the section of Twitter’s annual report that discusses fake accounts.

Musk has also claimed that the corporation misled him about the number of fraudulent accounts on the site, information on which he relied before deciding to purchase the company.

Yesterday, Musk’s legal team filed a Schedule 13D letter verifying to the government agency that the serial entrepreneur, referred to in the document as “the Reporting Person,” had formally notified Twitter of his desire to withdraw from the arrangement.

He has maintained for weeks that firm executives deceived him over the number of bogus accounts on the network, information upon which he relied when he agreed to the acquisition.

In October, a trial will determine whether the Tesla and SpaceX CEO is compelled to stand by his acquisition of the company.