Twitter argues latest Musk move to cancel buyout deal is ‘invalid’

Rebecca Klar

Twitter in a new filing argues that Elon Musk’s latest move to back out of his agreement to buy the company for $44 billion over the company’s handling of a high-profile whistleblower is “invalid and wrongful.”

Twitter’s attorneys pushed back on Musk’s third attempt to cancel his acquisition in a regulatory document filed Monday, reiterating arguments they used in the two prior instances while stating that Twitter has “breached none of its representations or obligations” under the agreement.

“As was the case with each of your prior purported terminations, the Musk Parties third purported termination is invalid for the independent reason that Mr. Musk and the other Musk Parties continue to knowingly, intentionally, willfully, and materially breach the Agreement,” they wrote.

Musk’s attorneys last week tried to back out of the deal by saying that Twitter should have notified him before the company paid $7.75 million in a separation agreement with Peiter “Mudge” Zatko, the company’s former security chief who has come out with accusations of widespread security deficiencies at Twitter.

Zatko is slated to testify before the Senate Judiciary Committee on Tuesday, the same day that Twitter shareholders are scheduled to vote on Musk’s embattled deal to buy the company for $44 billion.

Twitter and Musk are also scheduled to face off in October in a trial over whether Musk must follow through on his deal.

Courtesy: thehill