Twitter has scheduled a shareholder vote after Musk introduced he needed to drag out of the deal.
CNBC reported that the shareholder assembly would happen through webcast at 10:00 AM PT.
The social media firm introduced it might sue the Tesla CEO to implement the deal. NewsBusters reported earlier within the month that the difficulty boiled all the way down to the variety of spam accounts on the platform:
“Musk requested Twitter CEO Parag Agrawal to indicate proof of Twitter’s declare that lower than 5 p.c of its accounts are faux or spam accounts earlier than following by with buying the platform, in keeping with a Might 17 tweet. Musk mentioned he believed that 20 p.c of platform accounts had been faux or spam.
Data on Twitter’s faux or spam accounts is prime to Twitter’s enterprise and monetary efficiency and is critical to consummate the transactions contemplated by the Merger Settlement as a result of it’s wanted to make sure Twitter’s satisfaction of the situations to closing, to facilitate Mr. Musk’s financing and monetary planning for the transaction, and to interact in transition planning for the enterprise,’ the letter from Musk’s authorized staff says. “Twitter has failed or refused to supply this data.’”
NewsBusters additionally reported that Musk would countersue Twitter after it introduced it might sue him to implement the deal.
“Twitter desires Musk to purchase the platform underneath the unique phrases struck whereas Musk insists that the deal can’t undergo as a result of Twitter has not offered crucial data.”
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