The legal team for the Twitter articulated its stance in a letter to representatives of Elon Musk on Sept. 12. Twitter’s letter was a response to a letter from Musk’s representatives last week that attempted to end negotiations and renege on the deal.
“As was the case with both your July 8, 2022 and August 29, 2022 purported notices of termination,” Twitter Legal Team to Elon Musk.”The purported termination set forth in your September 9, 2022 letter is invalid and wrongful under the Agreement. Twitter has breached none of its representations or obligations under the Agreement, Twitter Legal Team to Elon Musk continued. “…and following the receipt of the approval of Twitter’s stockholders at its September 13, 2022 special meeting all of the conditions precedent to the closing of the Merger will be satisfied”
Musk claims that a $7.75 million payout to former Twitter employee Peiter “Mudge” Zatko is a violation of Twitter’s “contractual obligation.” Twitter shareholders are reportedly holding a vote on Sept. 13 that will either approve or reject the deal with Musk. The members of the board of directors of the company are in favor of the takeover. Musk initiated negotiations for the $44 billion acquisition deal in April. Since then, the Tesla CEO has waivered on following through a trial to resolve the matter is set to begin in mid-Oct