December 3, 2022

SOCIAL MEDIA BATTLE: Twitter wants the evidence that Elon Musk provided to the SEC

SOCIAL MEDIA BATTLE: Twitter wants the evidence that Elon Musk provided to the SEC

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The Twitter-buying saga of Elon Musk has earned the attention of federal investigators, and now Twitter wants to know exactly what that investigation turned up.

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Musk has made public statements about the company, often attacking it for the number of bots on the site, and even insinuating that Twitter has lied about how many user accounts are bots.

He also attempted to back out of the deal, resulting in Twitter suing to force him to go through with his initial agreement and complete the purchase. There is currently a stay of litigation in this case because Musk has said he intends to go forward with the acquisition as originally agreed.

Now, it turns out that the US Securities and Exchange Commission has been in touch with the would-be social media overlord, since at least April questioning him about his filings regarding the acquisition, and Twitter has been seeking the information that was turned over to the government.

Forbes reports:

“Musk’s statements and behavior were intended to “create doubt about the deal” and drive down Twitter’s share price, giving Musk leverage to negotiate a better price…Musk’s most recent u-turn, moving ahead with buying the company at the originally agreed upon price of $44 billion, shows he had no intention of walking away and was ‘bluffing all along,’ the lawsuit said.”

Representatives for Twitter said in the filing that they have made requests to the Tesla CEO’s attorneys, requesting copies of any response that was made to the SEC’s inquiries, but they have not received that material to date.

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Musk and his legal team take a different view, though, pointing fingers at the social media company as the true villain — and subject of investigation — in the story.

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The BBC reports:

“Alex Spiro, an attorney for Mr Musk, told Reuters that Twitter’s court filing was a ‘misdirection.'”

“‘It is Twitter’s executives that are under federal investigation,’ he said.”

Meanwhile, the billionaire is spending his time trolling on Twitter, announcing the launch of a perfume called “burnt hair,” and cajoling followers to purchase it so he’ll have the liquid funds available to go through with the deal.

Steph Bazzle covers politics and theocracy, always aiming for a world free from extremism and authoritarianism. Follow Steph on Twitter @imjustasteph.

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