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Musk has a new attack move against Twitter: Here’s what his SEC termination letter reads

Tesla CEO Elon Musk has stated that the testimony of Twitter whistleblower Peiter “Mudge” Zatko justifies his termination of the $44 billion deal to purchase the micro-blogging platform.

In a new termination letter filed with the US Securities and Exchange Commission (SEC), Musk’s authorized staff stated that Zatko’s allegations, if true, “exhibit that Twitter has breached the next provisions of the Merger Agreement, thereby giving the Musk Parties the precise to terminate the Merger Agreement pursuant to its phrases”.

Musk has to show to the court docket that Twitter violated some side of the merger settlement, else he should shell out a $1 billion effective for cancelling the deal.

“Twitter’s materials misrepresentations and/or omissions within the Merger Agreement and Twitter’s 2021 10-Okay relating to these severe allegations additionally represent fraud within the inducement, giving the Musk Parties the precise to recission,” learn the new termination letter filed with the US SEC late on Monday.

Musk first despatched the deal termination letter in July, making accusations that Twitter misled the SEC in its regulatory disclosures.

The new letter has the identical expenses, including Zatko’s criticism as extra proof.

Twitter whistleblower Zatko will seem earlier than the decide in a authorized battle between Musk and Agrawal-led micro-blogging platform.

Zatko has alleged that Twitter misled regulators about its safety practices and precise variety of bot accounts.

Zatko acquired a subpoena from Musk’s authorized staff to seem for a deposition on September 9 within the ongoing lawsuit between Twitter and Musk.

The court docket will even overview supplies associated to the top of Zatko’s employment at Twitter and his ongoing possession of Twitter shares.

Zatko can also be set to testify at US Congress on September 13 about allegation he leveled against the Agrawal-led micro-blogging platform.

(Except for the headline and canopy picture, the remainder of this IANS article is un-edited)

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