US Federal Authorities Allegedly Investigating Elon Musk’s ‘Behaviour’ While Turning On, And Off, Twitter Takeover
Elon Musk is allegedly being investigated by US federal authorities, amid a controversial $44 billion takeover of Twitter.
The revelation comes in a court filing by Twitter, CNN reportedin which federal authorities are allegedly investigating Elon Musk – but it is unclear what federal agencies are involved and what specific actions it is concerned about.
However, Twitter hinted at the reason, with only the Twitter profile stating that US authorities are looking into Musk’s “behaviour” related to the deal.
According to CNN, a Twitter court filing also accused Musk’s legal team of failing to produce a draft communications with the Securities and Exchange Commission and a slide presentation to the Federal Trade Commission as part of an ongoing litigation between the two sides over whether Musk could walk away from a deal.
Musk first acquired a stake in Twitter in April of this year, but at the time denied that he intended to acquire or acquire.
Musk then accepted an offer for a seat on Twitter’s board of directors, but a few days before joining the board, he suddenly declined.
Musk then made a takeover offer to Twitter and signed a deal, agreeing to buy the company for $54.20 per share.
Then, over the next few months, Musk made a number of allegations about the number of bot accounts or spam on the platform, before announcing in July that he had terminated the deal he had signed, prompting Twitter to sue him.
After failing to delay a trial scheduled for October 17 and facing the prospect of defeat in a Delaware court, as well as the prospect of having to pay a fine of at least $1 billion, Musk last week performed the speculator in reverse. He said he is now ready to complete the acquisition.
The Delaware judge overseeing the dispute later last week suspended legal proceedings until October 28, following a request from Musk.
However, Musk’s acquisition of Twitter remains uncertain at the time of writing, as he needs to raise funding from others, in order to buy. Meanwhile, Musk was “touting” his perfume, so he could buy Twitter.
– Elon Musk October 11 2022
Meanwhile, Elon Musk’s lawyers responded to the Twitter dossier Thursday — with a push back and claiming that Twitter itself is being investigated by federal authorities, CNN reported.
Musk’s attorney, Alex Spiro, reportedly said the Twitter dossier was designed to distract attention from Twitter’s own legal problems, which arose after the company’s former security chief, Peter “Mudge” Zatko, accused Twitter of having long-overlooked vulnerabilities in its revelations. Whistleblowers.
“Twitter executives are subject to a federal investigation,” Spiro told CNN. “This misdirection was sent by Twitter to attempt to reveal which of their various misconduct is under investigation.”
CNN reported that the Federal Trade Commission, which is responsible for enforcing the terms of a 2011 consent order with Twitter that Zatko allegedly violated, has not publicly disclosed an investigation.
But its president, Lena Khan, told Congress in public testimony that if Twitter executives were determined to be responsible for legal violations, the FTC would “will hesitate” and “will not hesitate” to hold those executives personally responsible.
CNN reported that in a separate filing Thursday, Twitter also confirmed that it did not order Zatko to burn several notebooks as part of the severance agreement, as Musk’s team claimed in a filing earlier this month. Instead, Twitter claimed that Zatko destroyed the notebooks of his own free will.
“Twitter did not ask Zatko to burn his documents, let alone ask for it,” the Twitter profile read. “Twitter had no knowledge of Zatko’s books and no idea what information they contained.”
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