Twitter Vows To Provide Legitimate Information To Elon Musk

Twitter's attorneys stated in a letter to the United States Securities and Exchange Commission (SEC) that in accordance with the Agreement, the company will keep giving Musk the information he legitimately requested and will work tirelessly to take all necessary steps to complete the deal.

“Twitter will continue to provide information reasonably requested by Musk under the Agreement and to diligently take all measures required to close the transaction.”

Musk's legal team asserted that Twitter withheld important information on spam and bot accounts, which he thinks to have been a "material breach" considering that the deal made "false and fraudulent" claims at every level of the negotiation process.

According to Twitter, it has not violated the terms of the Agreement, has not already incurred a Company Material Adverse Effect, and is not likely to do so in the future.

"Contrary to the assertions in your letter, Twitter has breached none of its obligations under the Agreement, and Twitter has not suffered and is not likely to suffer a Company Material Adverse Effect.

“The purported termination is invalid for the independent reason that Musk and the other Musk Parties have knowingly, intentionally, willfully, and materially breached the Agreement,

“The Agreement is not terminated, the Bank Debt Commitment Letter and the Equity Commitment Letter remain in effect, and Twitter demands that Musk and the other Musk Parties comply with their obligations under the Agreement, including their obligations to use their respective reasonable best efforts to consummate and make effective the transactions contemplated by the Agreement (including by taking all steps necessary to obtain a favourable outcome under the United Kingdom’s National Security and Investment Act 2021), the Bank Debt Commitment Letter, and the Equity Commitment Letter," Twitter concluded.