Elon Musk Twitter deal ‘is OFF as Tesla CEO terminates $44billion plan to buy company’
According to a letter from Musk, he claimed that Twitter is "in material breach of multiple provisions" of a previous letter of agreement.
The letter goes on to state that Twitter has not complied with its previously stated contractual obligations. "The May 25 Letter made clear that Mr Musk’s goal was to understand how many of Twitter’s claimed mDAUs were, in fact, fake or spam accounts," the letter states."Mr Musk has reason to believe that the true number of false or spam accounts on Twitter’s platform is substantially higher than the amount of less than 5% represented by Twitter in its SEC filings."
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