Twitter has offered a “firehose” of raw data to Elon Musk on hundreds of millions of daily tweets. Mr. Musk’s lawyer has claimed that Twitter tried to resist his right to information.
Musk’s attorney Mike Ringler has commented, “As the potential owner of Twitter, Mr. Musk is expressly entitled to the requested data to enable him to convert the business of Twitter into his ownership and to facilitate its transaction financing. To do both, he must have a complete and accurate understanding of the core of Twitter’s business model – its active user base.” He further added, “Based on Twitter’s behavior to date and in particular the company’s latest correspondence, Mr. Musk believes that the Company is actively protesting and thwarting their information rights.”
He further continued, “This is a clear material breach of twitter’s obligations under the merger agreement, and Mr. Musk reserves all rights as a result, including his right not to terminate the transaction and his right to terminate the merger agreement.”
To this claim, Twitter reported in a statement that they will cooperate and share information with Mr. Musk to complete the transaction in accordance with the terms of the merger agreement.
Mr. Musk stated that more than 20 percent of Twitter accounts are fake. Fake social media accounts are a problem for advertisers and investors. Their business depends on the number of users. Fake accounts are used to spread propaganda and amplify messages. Twitter was aware of this problem. However, they provided a low amount of estimated bot data to the US Securities and Exchange Commission for years.
