Elon Musk took advantage of the denunciation to overturn the Twitter acquisition deal

The international media has spent a lot of time reporting on Elon Musk’s $44 billion acquisition of Twitter. Similarly, they also spend a lot of paper and ink to monitor the progress of the “flip” case of the American technology billionaire.

Angered by being “climbed up a tree”, Twitter leaders decided to sue Elon Musk and expect the two sides to face each other in Delaware – US court on October 17.

In the letter that Elon Musk’s lawyers sent to Twitter on August 30, they announced they had more legitimate reasons to abandon their $44 billion acquisition of the company. The letter, published in a filing with the US Securities and Exchange Commission (SEC), quotes many of the contents of a complaint filed against the former company by former Twitter security chief Peiter Zatko.

Last week, former Cybersecurity Director Peiter Zatko made a shocking revelation and filed a complaint against his former company Twitter. The disclosure confirms that Twitter has many security and privacy vulnerabilities that threaten users, investors and even US national security.

Elon Musk used the denunciation of former Twitter security chief Peiter Zatko as the reason to cancel the $44 billion deal. Photo: CNN

In response, Twitter criticized Zatko and said he was fired in early 2022 for “poor performance and bad work results”.

“There are many reasons for Elon Musk to dig into Peiter Zatko’s allegations against his former company Twitter. However, the key issue is that Musk must prove that Twitter intentionally misrepresented the financial statements. and that information significantly distorts the company’s business activities,” said lawyer Robert Penza, of the law firm Polsinelli – USA.