Twitter's Legal Team Accuses Elon Musk of Violating Non-Disclosure Agreement
The probability of the deal closing at the agreed price fell below 50 per cent for the first time on Tuesday, when Twitter shares dropped below $46.75.
New Delhi: Tesla CEO, Elon Musk on Saturday said that Twitter's legal team accused him of violating a Non-Disclosure Agreement by revealing that the sample size for the social media platform's checks on automated users was 100.
"Twitter legal just called to complain that I violated their NDA by revealing the bot check sample size is 100!," Musk tweeted.
On Friday, Musk had put his Twitter deal worth Rs $44-billion temporarily on hold citing pending details in support of the calculation that spam and fake accounts indeed represent less than 5% of users.
"Twitter deal temporarily on hold pending details supporting calculation that spam/fake accounts do indeed represent less than 5% of users," Musk tweeted on Friday.
Reportedly, shares of one of the most popular social media sites, Twitter fell 17.7 percent to $37.10, the lowest ever since Tesla's chief revealed his stake in the company in early April.
The probability of the deal closing at the agreed price fell below 50 per cent for the first time on Tuesday, when Twitter shares dropped below $46.75.
Earlier this month, the social media company had estimated that false or spam accounts represented fewer than 5 percent of its monetizable daily active users during the first quarter when it recorded 229 million users who were served to advertise.
Last month, the Tesla chief had bought a 100 per cent stake in Twitter for approx &44 billion around $54.20 per share, and all of it in cash.
However, Twitter was evaluating Musk's offer for the last few weeks, but eventually, it fell into Musk's court. Earlier Musk had said that Twitter has "extraordinary potential" and he wanted to unlock it all.
Also read: Elon Musk now gets busy counting fake, spammy accounts
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