Elon Musk sends another notice to Twitter to kill $44 bn deal
Tesla CEO Elon Musk has shot off a third notice to Parag Agrawal-led Twitter, aimed at terminating the $44 billion takeover deal
Tesla CEO Elon Musk has shot off a third notice to Parag Agrawal-led Twitter, aimed at terminating the $44 billion takeover deal.
In the latest letter submitted with the US Securities and Exchange Commission, Musk's legal team cited Twitter's multi-million dollar severance payment to former security chief and whistleblower Peiter "Mudge" Zatko.
According to The Verge, the notice was sent to Twitter's chief legal officer Vijaya Gadde.
"On June 28, 2022, Twitter entered into a separation agreement with Peiter Zatko under which Twitter made severance payments to Zatko and his counsel totaling $7.75 million," the notice said.
Musk's lawyers cited this as yet another reason to terminate the deal.
The Tesla CEO is also trying to buy more time from the court to kick off the Twitter trial, set for October 17, citing the upcoming testimony by Zatko.
Musk's legal team has proposed a new timeline that would push the week-long trial to late November.
Zatko is set to testify at the US Congress on September 13 about allegations he levelled against the micro-blogging platform.
The former Twitter security head alleged that Twitter misled regulators about its security practices and actual number of bot accounts.
"My friend seems to be arguing that Twitter should have gratuitously told Musk that there existed a disgruntled former employee who made various allegations that had been inquired upon and found to be without merit," Twitter attorney William Savitt said earlier this week.
"That doesn't make any sense."
Twitter did not respond to a request for comment on Friday.
Zatko also received a subpoena from Musk's legal team to appear for a deposition on September 9 in the ongoing lawsuit between Twitter and Musk.
Musk has said that the testimony of Twitter whistleblower justifies his termination of the $44 billion deal to buy the micro-blogging platform.