What you need to know
- Twitter shareholders voted in favor of Elon Musk’s acquisition of the company.
- Twitter and Musk have fought over the latter’s decision to pull out of the takeover.
- A former employee is currently testifying against the company, claiming negligence with user data and security.
In the latest tale of Twitter versus Elon Musk, shareholders of the social media company voted in favor of the Tesla CEO’s $44 billion acquisition.
Voting took place on Tuesday (via CNN) amid the ongoing drama between the two parties. While Twitter seeks to hold Musk to the deal, the billionaire is trying to back out, claiming that the company has not been upfront with him about its numbers.
Musk wanted Twitter to provide him with accurate figures regarding the number of spambots present on the platform, which Twitter estimates sit at around 5% of its monetary daily active users. However, after not receiving the data, Musk issued his intent to terminate the deal.
As a result, Twitter and Musk are now set to enter court in October to settle the matter.
Meanwhile, new information has come to light regarding Twitter’s conduct. According to Pieter Zatko, Twitter’s former head of security, the company has been negligent in how it handles user data and cybersecurity, despite his warnings. He also claims that Twitter has no incentive to deal with spambots on the platform.
Twitter stated that the whistleblower allegations paint “a false narrative” about the company’s practices and that Zatko was fired over poor performance. Meanwhile, Musk has seen this as an opportunity to get out of buying Twitter and issued his latest attempt to terminate the deal. The company has since issued a response to the notice, calling the move “invalid and wrongful.”
Meanwhile, Zatko testified in a hearing with Congress on Tuesday, echoing his claims against the company. Musk will likely use Zatko’s claims in the case against the company.
Both Twitter and Musk are expected to go to trial on October 17.