Twitter shares fell 11% on Monday after Elon Musk pulled out of a deal to buy the social network for $44 billion. Tesla fell about 6.5%, according to CNBC.
Elon Musk's lawyers notified the US Securities and Exchange Commission on July 9 that the CEO of Tesla and SpaceX was about to terminate the Twitter acquisition and accused the social media company of "materially violating various provisions" of the merger agreement.
Elon Musk threatened on June 6 to terminate the deal due to refusal to provide requested data on fake accounts. Immediately after his statement, Texas Attorney General Ken Paxton launched an investigation into Twitter.
It asked for details on 23 items, including data on monetized users and fake accounts for each month from 2017 to the present. Ken Paxton also required that this data be broken down into categories: a fake account, a spam account, and a bot account, if Twitter has one.
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karina pardaeva
Source: RB
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