Twitter Stock Drops: According to Musk, Twitter is in conflict with the terms of the acquisition regarding data disclosure behavior | 6/6/22

Elon Musk has accused Twitter of breaching the terms of its $1 billion acquisition of the SMS service.

In an open letter from his attorney on Monday, Twitter said it refused to release data Musk requested regarding spam and fake user accounts on the platform. In accordance with the terms of the acquisition, Twitter is obligated to provide data and information requested by Musk in connection with the transaction. Contrary to what Twitter is displaying, this obligation to provide information does not apply only to very limited purposes. According to the information, Musk also reserves the right to cancel the acquisition project.

Musk is openly suspicious of information provided by Twitter about the number of spam and fake accounts. The former head of Tesla, a leader in electric cars, agreed with the company to buy Twitter for $54.20 per share. With prices around $40, investors are currently skeptical about whether the corresponding deal will actually take place.

Twitter shares temporarily lost 5.28 percent to $38.04 in trading on the New York Stock Exchange.

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San Francisco (dpa-AFX)