Musk issued a statement to terminate the acquisition of Twitter? Twitter accused Musk of violating the confidentiality agreement!

It is learned that on April 25, Elon Musk planned to acquire Twitter for $44 billion and had reached an agreement with Twitter. However, on May 13, the world's richest man announced on his Twitter account that he would temporarily suspend the acquisition plan of Twitter, which led to Twitter's stock market crash. The reason for the temporary suspension of the transaction is that Twitter stated in its Q1 quarterly financial report that its spam and fake accounts accounted for less than 5% of the total users. Musk said that he was waiting for more details about the proportion of spam and fake accounts that were clearly present on the social network.

It is reported that Twitter and Musk agreed that if one party terminates the acquisition deal, it must pay a fine of $1 billion. However, experts believe that the cost of the breakdown of the deal between Musk and Twitter is more than a simple loss of $1 billion.

The news caused the social network's stock to plunge nearly 25% in pre-market trading on Wall Street, falling to its lowest level since Musk acquired Twitter shares (US$37.1). Two hours later, Musk tweeted again that he would "work on the acquisition," and the news had already sent Twitter's stock price sharply back up, but it was still far from Musk's own target of US$54.2 per share. Twitter's stock price then continued to fall, falling more than 11%. Tesla's stock price rose 6.5% to US$775.69.

"To find out, my team will conduct a random sampling of 100 @twitter followers. I invite others to repeat the same process and see what they find," Musk tweeted.

It is understood that Musk's above actions were accused by Twitter. Musk also posted that Twitter's legal department accused Musk of violating the confidentiality agreement through tweets: "Breaking its confidentiality agreement by revealing that the robot inspection sample size is 100". Twitter declined to comment on Musk's tweets. It is reported that if the above tweets cause Twitter to fall into legal trouble, this will not be the first tweet that Musk has gotten into legal trouble. As early as 2018, Musk's infamous "funding secured" tweet attracted the attention of the U.S. Securities and Exchange Commission, and Musk finally reached a $40 million settlement with the agency.

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