Twitter shareholders vote in favor of Elon Musk buyout amid whistleblower testimony


What it’s good to know

  • Twitter shareholders voted in favor of Elon Musk’s acquisition of the corporate.
  • Twitter and Musk have fought over the latter’s choice to tug out of the takeover.
  • A former worker is at the moment testifying towards the corporate, claiming negligence with consumer knowledge and safety.

Within the newest story of Twitter versus Elon Musk, shareholders of the social media firm voted in favor of the Tesla CEO’s $44 billion acquisition.

Voting came about on Tuesday (by way of CNN) amid the continuing drama between the 2 events. Whereas Twitter seeks to carry Musk to the deal, the billionaire is making an attempt to again out, claiming that the corporate has not been upfront with him about its numbers.

Musk needed Twitter to offer him with correct figures concerning the variety of spambots current on the platform, which Twitter estimates sit at round 5% of its financial each day lively customers. Nonetheless, after not receiving the info, Musk issued his intent to terminate the deal.

Because of this, Twitter and Musk are actually set to enter court docket in October to settle the matter.

In the meantime, new data has come to mild concerning Twitter’s conduct. In keeping with Pieter Zatko, Twitter’s former head of safety, the corporate has been negligent in the way it handles consumer knowledge and cybersecurity, regardless of his warnings. He additionally claims that Twitter has no incentive to cope with spambots on the platform.

Twitter acknowledged that the whistleblower allegations paint “a false narrative” concerning the firm’s practices and that Zatko was fired over poor efficiency. In the meantime, Musk has seen this as a chance to get out of shopping for Twitter and issued his newest try to terminate the deal. The corporate has since issued a response to the discover, calling the transfer “invalid and wrongful.”

In the meantime, Zatko testified in a listening to with Congress on Tuesday, echoing his claims towards the corporate. Musk will doubtless use Zatko’s claims within the case towards the corporate.

Each Twitter and Musk are anticipated to go to trial on October 17.


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