Elon Musk is threatening to terminate his deal to buy Twitter, with his lawyer alleging that the company hasn't properly allowed him to evaluate the number of fake accounts on the platform.
in late April to acquire Twitter at $54.20 a share look like a pretty bad deal for him.
In the month since, Twitter’s stock price has not rebounded , and Musk has continued to accuse Twitter of not providing adequate details about the number of fake accounts on the platform or its methods for determining that number. According to Ringler’s letter, Musk was not pleased with the way Twitter characterized its practices in this regard in a June 1 letter, calling it “merely an attempt to obfuscate and confuse the issue.
Ringler signed off his letter with the most explicit threat yet that Musk may renege on the contract he signed, claiming Twitter’s actions constitute “a clear material breach of Twitter’s obligations under the merger agreement.” He continued, “Mr. Musk reserves all rights resulting therefrom, including his right not to consummate the transaction and his right to terminate the merger agreement.
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