Home Technology Elon Musk tries to back out of Twitter deal yet again, cites whistleblower’s severance

Elon Musk tries to back out of Twitter deal yet again, cites whistleblower’s severance

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Another day, another Elon Musk Twitter story.

The latest developments saw Musk’s legal team send a letter to Twitter in another attempt to terminate the billionaire’s plans to acquire the social media platform.

According to The Verge, Musk’s legal team sent the letter to Twitter’s chief legal officer and filed it with the SEC on September 9th. The document again brings up whistleblower Peiter Zatko, a former company exec. Late last month, Zatko alleged the company lied about bots and security issues. The document states Twitter’s multimillion-dollar severance payment to Zatko breaches the acquisition agreement.

In response, Twitter says it didn’t violate any obligations set out in the agreement. “The purported termination set forth in your September 9th, 2022 letter is invalid and wrongful under the agreement,” the response, filed with SEC on Monday, states.

“Twitter has breached none of its representations or obligations under the agreement, and following the receipt of the approval of Twitter’s stockholders at its September 13th 2022 special meeting, all of the conditions precedent to the closing of the merger will be satisfied.”

According to the Wall Street Journal, Zatko will recieve roughly $7 million, a figure related to lost compensation agreed upon before he left his post.

Source: SEC and the Wall Street Journal Via: The Verge





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