According to Twitter, federal authorities are investigating Elon Musk in connection with his $44 billion acquisition of Twitter.
We don’t know which agencies are conducting the probe. Also, Twitter didn’t identify why they are investigating Musk.
The company’s court filing had accused Musk’s legal team of failing to produce draft communications with the Securities and Exchange Commission and a slide presentation to the Federal Trade Commission.
Sounds like a hanging offense. He didn’t produce paperwork or a slide presentation. Golly.
Musk first attempted to terminate the deal in July, alleging that Twitter violated the agreement by misrepresenting the number of spam and fake bot accounts on its platform.
Twitter then sued Musk to complete the acquisition, accusing the billionaire of using bots as a pretext to exit a deal he developed buyer’s remorse over following a market decline.
Musk turned around and said that he would buy it, and Twitter said they planned to go ahead with the lawsuit.
Musk asked the court for a pause until October 28th and got it. He’s trying to get backers after having lost two.
In response to Twitter’s Thursday filing, Alex Spiro, Musk’s attorney, said it was designed to distract from Twitter’s own legal problems, which arose after the company’s former head of security, Peiter “Mudge” Zatko, accused Twitter of long-ignored security vulnerabilities in a whistleblower disclosure.
“Twitter’s executives are under federal investigation,” Spiro said in a statement to CNN. “This misdirection was sent by Twitter to try and uncover which of their assorted misconduct they are under investigation for.”
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