Elon Musk’s legal team has given another notice to terminate its $44 billion deal to buy Twitter, citing additional reasons.<\/p>\n\n\n\n
The latest notice comes after Twitter’s former security chief alleged deficiencies in its security, privacy and content moderation systems earlier this month.<\/p>\n\n\n\n
On July 8, Musk’s legal team initially filed a notice with the US Securities and Exchange Commission (SEC) to terminate the Twitter acquisition, and Musk’s legal team alleged that the company had not complied with contractual obligations.<\/p>\n\n\n\n
Twitter and Elon Musk will go to trial on October 17 in Delaware to resolve Musk’s bid to cancel his company takeover unless they settle first.<\/p>\n\n\n\n
\u201cAllegations regarding certain facts, known to Twitter prior to and as of July 8, 2022, but undisclosed to the Musk Parties prior to and at that time, have since come to light that provide additional and distinct bases to terminate the Merger Agreement,\u201d Mike Ringler, Musk\u2019s legal representative from Skadden, Arps, Slate, Meagher & Flom, wrote in a letter to Twitter\u2019s legal chief, Vijaya Gadde.<\/p>\n\n\n\n
Ringler said in the letter that the latest termination notice is \u201cnot legally necessary\u201d to end the merger deal, but is being delivered in case the July 8 filing is \u201cdetermined to be invalid for any reason.\u201d<\/p>\n\n\n\n
The letter on behalf of Musk said the Zatko complaint \u201calleges far-reaching misconduct at Twitter\u2014all of which was disclosed to Twitter\u2019s directors and senior executives, including (CEO) Parag Agrawal\u2014that is likely to have severe consequences for Twitter\u2019s business.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"
Elon Musk’s legal team has given another notice to terminate its $44 billion deal to buy Twitter, citing additional reasons. The latest notice comes after Twitter’s former security chief alleged deficiencies in its security, privacy and content moderation systems earlier this month. On July 8, Musk’s legal team initially filed a notice with the US …<\/p>\n","protected":false},"author":9,"featured_media":45160,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[37,36],"tags":[7355,7003],"class_list":["post-71150","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-forex-markets","category-market-updates","tag-elon-musk","tag-twitter"],"_links":{"self":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/71150","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/users\/9"}],"replies":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/comments?post=71150"}],"version-history":[{"count":1,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/71150\/revisions"}],"predecessor-version":[{"id":71151,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/71150\/revisions\/71151"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media\/45160"}],"wp:attachment":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media?parent=71150"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/categories?post=71150"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/tags?post=71150"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}