Elon Musk now accuses Twitter of fraud to end takeover

Elon Musk is adopting all possible strategies to permanently end the takeover of Twitter. Today, the billionaire relies once again on information from Peiter Zatko, ex-chief of security of Twitter, and accuses the platform of fraud.

The fight between Elon Musk and Twitter continues as the first trial will take place on October 17. The billionaire announced last April that he wanted to acquire the social network for 44 billion dollars, before finally giving it up for several reasons.

The boss of Tesla is trying to end the takeover by several means and today accuses the platform of fraud. To do this, he once again uses information provided by Peiter Zatko, the former security chief of Twitter who has become a whistleblower, and affirms that the social network conceals serious security flaws.

Elon Musk arms himself with a very powerful new asset against Twitter

In a 200-page file sent to the American authorities, Peiter Zatko argued that the platform “has major security issues that threaten the personal information of its own users, company shareholders, national security and democracy”. He adds that many of the servers are outdated, that employees have easy access to user data, and that government spies are hiding behind moderators.

The whistleblower confirmed his statements during a hearing before the US Senate on September 13, and he now accuses Twitter executives of doing nothing about these serious security problems.

“I’m here today because Twitter management is misleading the public, lawmakers, regulators, and even its own board of directors. […] Key members of management do not have the skills to understand the extent of the problem. And they have no incentive to do so. »

Peiter Zatko

If these accusations can be harmful for Twitter, they are beneficial for Elon Musk who was quick to use them to support his case. The businessman advances today to be completely entitled to renounce the takeover of the social network, as reported by NBC.

Twitter allegedly breached contract with FCC

Now, the billionaire is playing the fraud card by accusing Twitter of having hidden from him a breach of an agreement made with the FCC (US Federal Communications Commission) in 2011. In this agreement, the social network undertook to implement place a plan to strengthen its security, a plan which does not appear to have been launched today according to Zatko and Musk.

The Tesla boss claims in his lawsuit filed in court that Twitter willfully covered up flaws, which represents a breach of their contract. He adds that the platform is therefore guilty of fraud and asks the judge to end the redemption obligation.

For Twitter, the information provided by Peiter Zatko is “riddled with inconsistencies and inaccuracies” and wants the judge responsible for the case to order Elon Musk to buy the platform for 44 billion dollars, as provided for in the contract.

This price was set on the basis of 54.20 dollars per share, a value well above the current price of around 41 dollars, which justifies Twitter’s desire to be bought out as quickly as possible by the billionaire. The shareholders of the platform also voted almost unanimously in favor of the takeover (98.6% of the votes in favor), mainly for this reason.

See you on October 17 for the trial, which will last five days before the Delaware court. Until then, we will keep you informed of the latest developments in the case.

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