Elon Musk announced Friday that he will abandon his $44 billion offer to buy Twitter after they failed to provide enough information about the number of fake accounts. Twitter immediately said it would sue the Tesla CEO to uphold the deal.
Twitter could have pushed for a $1 billion breakup fee that Musk agreed to pay under these circumstances. Instead, it looks ready to fight to complete the purchase.
In a letter to Twitter's board, Musk lawyer Mike Ringler stated that his client had for nearly two months sought data to judge the prevalence of “fake or spam” accounts on the social media platform.
“Twitter has failed or refused to provide this information. Sometimes Twitter has ignored Mr. Musk’s requests, sometimes it has rejected them for reasons that appear to be unjustified, and sometimes it has claimed to comply while giving Mr. Musk incomplete or unusable information,” the letter said.