Tesla CEO Elon Musk reported on Twitter that he was abandoning the Twitter deal.
Elon Musk sent a letter to Twitter that he was terminating the deal.
By causing Musk to cancel the agreement, he cited the violation of many provisions of the agreement.
“Twitter has not fulfilled its contractual obligations,” Musk said in a statement to the SEC.
According to Musk’s lawyer, Twitter did not provide Musk with the business information he requested. Musk previously said he wanted to review Twitter’s claims that around 5% of monetized daily active users (mDAUs) are spam accounts.
“Twitter is sometimes called Mr. He ignored Musk’s demands, sometimes for reasons that seemed unfair. Sometimes Mr. Gave Musk incomplete or unusable information”
Twitter has not yet made a statement on the matter.
