Twitter scheduled a shareholder vote following Musk’s decision to withdraw from the deal.
CNBC stated that shareholders would be able to view the meeting via webcast starting at 10:00 AM PST.
According to the social media platform, it was going after Tesla’s CEO for violating the contract. NewsBusters had reported in March that it was mainly about spam accounts.
“Musk asked Twitter CEO Parag Agrawal to show evidence of Twitter’s claim that less than 5 percent of its accounts are fake or spam accounts before following through with purchasing the platform, according to a May 17 tweet. Musk claimed that 20% of the platform accounts were spam or fake.
Information on Twitter’s fake or spam accounts is fundamental to Twitter’s business and financial performance and is necessary to consummate the transactions contemplated by the Merger Agreement because it is needed to ensure Twitter’s satisfaction of the conditions to closing, to facilitate Mr. Musk’s financing and financial planning for the transaction, and to engage in transition planning for the business,’ the letter from Musk’s legal team says. “Twitter has failed or refused to provide this information.’”
NewsBusters reports that Musk will countersue Twitter, after the company announced that it would sue Musk to enforce the agreement.
“Twitter wants Musk to buy the platform under the original terms struck while Musk insists that the deal cannot go through because Twitter has not provided necessary information.”
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