9/12/2022, 12:39 PM (Source: TeleTrader)
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Twitter: Musk's latest termination letter wrongful

Twitter Inc. said in a filing on Monday that Elon Musk's latest letter seeking to terminate the acquisition deal is "wrongful under the agreement." Musk claimed that the social media giant did not have his consent to pay out $7.75 million in severance to the former head of security Peiter Zatko.

Twitter reaffirmed it intends to pursue the agreement "and close the transaction on the price and terms agreed upon" with Musk. The company once again accused the world's richest man of "knowingly, intentionally, willfully, and materially" breaching the deal and demanded that he comply with his obligations.

Baha Breaking News (BBN) / DJ