Thursday, July 24, 2025

Elon Musk Accuses Twitter of Breaching Merger Agreement by Refusing to Reveal Fake Bot Info

The strife between Elon Musk and Twitter (NYSE: TWTR) continues: on Monday, the Tesla CEO accused the social media giant of breaching its merger agreement by refusing to hand over details surrounding the number of spam accounts on the platform.

According to an SEC filing, Musk said Twitter is “actively resisting and thwarting his information rights” by not revealing the actual proportion of fake bots infiltrating the social media platform. In the letter written by attorney Mike Ringler, it’s a “clear material breach” of the $44 billion merger agreement, and as a result Musk “reserves all rights resulting therefrom, including his right not to consummate the transaction and his right to terminate the merger agreement.”

Last week, Musk threatened to pause his pending acquisition of Twitter until the company proves that bot accounts make up less than 5% of all user accounts; some analysts, though, attested the move to a negotiating ploy to reduce the $44 billion buyout price tag. Musk said he would conduct random sampling to determine the actual figure, but Twitter CEO Parag Agrawal explained that such analysis would require nonpublic information, which Musk wouldn’t have access to.

In the letter, Musk’s attorney reminded Twitter that it would have to hand over the requested data, disagreeing with the company’s claim that it’s required to provide information only specific to the closing of the deal. “To the contrary, Mr. Musk is entitled to seek, and Twitter is obligated to provide, information and data for, inter alia, ‘any reasonable business purpose related to the consummation of the transaction,” read the letter.

“At this point, Mr. Musk believes Twitter is transparently refusing to comply with its obligations under the merger agreement, which is causing further suspicion that the company is withholding the requested data due to concern for what Mr. Musk’s own analysis of that data will uncover,”  Ringler added.


Information for this briefing was found via the SEC. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

Video Articles

Tariffs Spark New Race for Critical Metals | Rob McEwen

Antimony Resources: The Bald Hill Project

They Laughed at $3,000 Gold, Now We’re Headed for $4,000! | Sean Roosen – Osisko Development Corp.

Recommended

Three Miners Trapped Underground At Newmont’s Red Chris Mine

Spirit Blockchain Outlines Crypto Strategy For ‘Spirit 2.0’

Related News

Revenue-Strapped Elon Musk Tells Advertisers: “Go F*** Yourself”

Addressing attendees at the 2023 DealBook Summit in New York, Elon Musk, the proprietor of...

Thursday, November 30, 2023, 12:07:00 PM

Elon Musk Reportedly Fires Twitter Engineer For Saying His Popularity Is Declining

Elon Musk, obsessed with how his Twitter engagement rate has plummeted, reportedly fired an engineer...

Friday, February 10, 2023, 10:21:00 AM

Musk’s Twitter Deal Becomes Worst Merger Loan for Banks Since 2008 Crisis

The loans used by Elon Musk to finance his $44 billion acquisition of Twitter (which...

Wednesday, August 21, 2024, 03:39:00 PM

Tesla Subpoenaed By SEC Related To Go Private Settlement Agreement

Tesla (NASDAQ: TSLA) continues to be in hot water as a result of the actions...

Monday, February 7, 2022, 08:55:20 AM

Musk Prepares Exit, Can’t Handle the Heat of His Own Accountability Furnace

As Elon Musk eyes the exit door of the Trump administration, his legacy project—the now-infamous...

Monday, April 21, 2025, 12:10:00 PM