It should be remembered that after the cancellation of the deal, Twitter shares fell 7%, which caused the company to write off about 1,800 million dollars in market value.
For his part, Musk’s lawyer, Andrew Rossman of the Quinn Emmanuel law firm, pointed out that the acceleration of the process was too aggressive a move and did not give time to review the enormous amount of data that Twitter has to verify the percentage of spam accounts or bots.
He even accused the platform of “continuing to secretly hide” the exact number of accounts; however, Savitt pointed out that this information is not necessary to proceed with the purchase, because “nothing in the merger agreement revolves around that issue.”
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