Shulou(Shulou.com)11/24 Report--

Beijing, September 16 (Xinhua) Musk accused Twitter of fraud, but the company deliberately covered it up when it was clear that there was a serious loophole in Twitter's data security, according to newly released court documents. Musk had planned to buy Twitter for $44 billion, but now he wants to close the deal.

In addition, Twitter signed an agreement with FTC on user data in 2011, but Twitter did not abide by the agreement, and Musk thought it was unreasonable for Twitter to hide it.

"there is no doubt that the latest disclosure shows that Musk has the right to abandon the merger agreement, and there are many good reasons to do so," Musk said on his side. "

Musk also stressed that according to the inside story revealed by Peiter "Mudge" Zatko, the former head of security for Twitter, Twitter clearly constitutes a fraud and violates the agreement.

Musk asked a Delaware judge to rule that he was under no obligation to complete the deal, while Twitter wants the judge to force Musk to complete the acquisition for $54.20 a share, and the two sides will participate in a five-day trial starting on October 17.

Twitter said the company had conducted an internal investigation into Zatko's accusations and found his claims unfounded. Twitter also said Zatko was fired for poor performance. Twitter lawyers said Musk quoted Zatko as saying that the accusations did not justify closing the deal and did not meet the criteria for fraud.

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