Wellington: Tension is increasing between Tesla company CEO Elon Musk and micro-blogging site Twitter. In this sequence, Elon Musk, while filing a reply in court, has accused Twitter of committing fraud by hiding serious flaws in data security. Also, Elon Musk has demanded from the court that the $ 44 billion deal between him and Twitter be allowed to be canceled. Elon Musk responded by adapting to allegations from a Twitter whistleblower, modifying his earlier lawsuit. The CEO of electric vehicle maker Tesla also alleged on Twitter that the company hid from him that it was not complying with a 2011 agreement with the Federal Trade Commission on user data.
The new countersuit, revised by Elon Musk, said that needless to say, the new disclosures make it clear without controversy that Elon Musk has every right to opt-out of the deal. Actually, now the Twitter company wants that the court should order Elon Musk to buy the company for $ 54.20 per share. The hearing of the case will start on October 17. Twitter shares were up 0.6% in late Thursday trading. Twitter said it had internally investigated Jatco’s allegations and determined they lack merit. The company has said that Zatco was fired for poor performance.
Lawyers for Twitter have told the court that the whistleblower’s claims that Musk got involved in their case either did not constitute grounds for terminating the deal or failed to meet the standard of fraud. Let us tell you that recently the shareholders of Twitter supported Elon Musk’s deal in a meeting. Elon Musk is trying to get out of this deal.
