Twitter Plunges After Musk Says Company Has Materially Breached Deal Agreement

Tiger Newspress2022-06-06

Twitter stock slid over 6% in premarket trading.

Elon Musk, in letter to Twitter, says Twitter’s latest offer to simply provide additional details regarding its own testing methodologies is "tantamount to refusing" data requests.

"Based on Twitter’s behavior to date, and the company’slatest correspondence in particular, Mr. Musk believes the company is actively resisting and thwarting his information rights (and the company’s corresponding obligations) under the merger agreement," according to a letter from Musk's lawyers ina new 13D filing."This is a clear material breach of Twitter’s obligations under the merger agreement and Mr. Musk reserves all rights resulting therefrom, including his right not to consummate the transaction and his right to terminate the merger agreement."

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Comments

vaicrazy
2022-06-07
vaicrazy
Ok
calebxiong
2022-06-06
calebxiong
Like pls
DarkFate
2022-06-06
DarkFate
Like
Dindindino
2022-06-06
Dindindino
Like pls
Fiona888
2022-06-06
Fiona888
Ok
Jas12345
2022-06-06
Jas12345
Omg

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