Elon Musk Walking Away From Twitter Deal Over “Bot” Accounts
Elon Musk’s attorneys are saying he’s ready to walk on the agreement to buy Twitter for $44 Billion dollars, saying Twitter isn’t being forthcoming with the amount of fake accounts they have. In doing his due diligence and looking over the company to assess it’s value, Musk asked the number of “bot” or fake accounts, and Twitter says only 5%. Musk wasn’t buying that and wanted to see the hard numbers. They haven’t provided that. Twitter “appears to have made false and misleading representations,” including “dramatically understating the proportion of spam and false accounts.”
News of the dealbreaker caused Twitter’s stock to plummet, but Twitter wants to take him to court. A lengthy court battle could be costly for both sides, so it remains to be seen where this ends up.
