Twitter shareholders on Tuesday voted to sell the company to U.S. businessman Elon Musk in an April deal for $44 billion.
According to Business Insider, Twitter shareholders held an extraordinary meeting at which they voted to sell Twitter assets to Musk, where the decision was made on the basis of preliminary voting results, with the final result to be announced later.
The move was seen as a formal move to confirm the shareholders’ desire to continue the company’s lawsuit against Musk, who had previously backed out of the purchase.
Musk’s lawyers informed the company of their client’s rejection of the purchase in early July, asking the company to provide him with information confirming that fake accounts used to send promotional messages through mass mailings account for less than 5% of the total number on Twitter. but the company did not provide him with this data.
This prompted Twitter to file a lawsuit against Musk on July 12 to force him to honor his obligations.
To which Musk responded on July 29 with a counterclaim in a Delaware court.
On August 30, Musk’s business manager confirmed that former Twitter security chief Peter Zatko’s public statements about serious privacy security flaws were additional reason for the deal to be cancelled.
According to CNBC, the court will decide whether Musk has the right to unilaterally terminate the deal at its October meeting.
You must log in to post a comment.