Elon Musk informs Twitter he is terminating proposed $44B acquisition, SEC says

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Is Elon Musk over Twitter?

, Ringler claimed that Twitter failed to provide Musk with requested business information that would allow the Tesla CEO to assess Twitter’s claims that spam accounts constitute roughly 5% of the platform’s monetized daily active users.

“Twitter has failed or refused to provide this information,” Ringler wrote, adding, “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.”

Ringler also alleged in the letter that Twitter has provided “materially inaccurate representations” that have breached the merger agreement.

 

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