Elon Musk under investigation over Twitter acquisition

Twitter revealed that Tesla CEO Elon Musk is under federal investigation for his $44 billion acquisition deal, and there’s even a court filing on the matter.

Twitter claimed that during the acquisition process, they asked Elon Musk’s legal team to show them documents relating to his communications with federal authorities. He has yet to show them, however, despite even a Delaware judge ordering the lawyers to provide the documents.

According to Reuters, the “privileged register” identifying the “hidden” documents was displayed from the end of September. They contained alleged drafts of emails between the Federal Trade Commission (FTC) and the Securities and Exchange Commission (SEC).

Twitter even accused Musk of bad faith and that his game “must stop”, while Elon Musk’s lawyers did not comment on his position.

The conflict between Twitter and Elon Musk is growing

A few days ago, Tesla CEO Elon Musk reiterated his desire to buy Twitter for $54.20 per share, which drove the price of dogecoin (DOGE) up 10%.

BeInCrypto revealed that Elon Musk announced his renewed intentions to proceed with the purchase of Twitter in a letter addressed to the company. Following the announcement, Twitter’s stock skyrocketed with an 18% increase. Trading even had to be halted due to the sharp increase in the share price.

In August, the row between the Tesla CEO and the founders of Twitter appeared to escalate, especially when the billionaire withdrew his offer to buy the social network and its board of directors filed a lawsuit. Musk then filed a lawsuit against the company.

At present, Elon Musk’s counter-complaint is being kept secret at his request (even though he claims otherwise on his social media) and is a response to Twitter’s previous lawsuit. It would be a 164-page document, a shorter version of which will soon be unveiled to the general public.

“Much of the data requested by Elon Musk has not yet been provided by Twitter, including information about Twitter’s process to verify the inclusion of spam and fake accounts in mDAU. But still, information about Twitter’s process for identifying and suspending spam and fake accounts.


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