“As a potential owner of Twitter, Mr. Musk is clearly entitled to the requested data in order to prepare to take ownership of Twitter’s business and to facilitate his transaction financing,” Musk’s attorney Mike said Ringler signed letters to mergers and acquisitions specialist. “To do both, he must fully and accurately understand the core of Twitter’s business model — its active user base.”
Spam bots, accounts selling cryptocurrency scams, and otherwise trying to take advantage of vulnerable users have long been a pet problem for Musk – one of the platform’s most popular users with over 96 million followers – who regularly encounters impersonators in his activity on the site . Twitter’s own estimates put the number of spam accounts at 5 percent or less, but Musk is asking for data the social media company can’t provide to confirm the true number.
Musk “need not explain his reasons for requesting the data, nor submit to the new terms the company has attempted to impose on its contractual right to the requested data,” attorneys noted.
Twitter did not immediately respond to a request for comment from The Post.
The terms of the deal include a $1 billion breakup fee, though his tweet had some wondering if he was trying to avoid those costs. And securities law experts have said that withdrawing from Musk at this point could result in a lengthy and messy legal battle that would leave the tech mogul with costs well in excess of the penalty for walking away.
Twitter shares fell 5 percent in morning trade. Tesla shares rose 1.5 percent.