Twitter asks employees to ‘refrain’ from posting about Elon Musk’s merger
By Team Newsable | First Published Jul 10, 2022, 11:44 AM ISTMusk's legal team announced in a US Securities and Exchange Commission (SEC) filing that he is terminating the agreement because Twitter was in "material violation" of their agreement and made "false and misleading" claims during talks.
In the midst of the high-voltage drama that has ensued since Elon Musk formally attempted to back out of his $44 billion agreement to purchase Twitter, the microblogging site's general counsel has instructed workers not to publicly comment on the transaction.
Sean Edgett, the company's general counsel, advised staff in an internal email issued on Friday and seen by The Verge to "refrain from Tweeting, Slacking, or providing any opinion regarding the acquisition," and that management would be "extremely constrained on what we can publish."
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"I understand this is a difficult moment, and we appreciate your patience and continuous dedication to the critical work we have underway," Edgett wrote.
According to the site, the notification states that the merger is still being litigated.
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"The Twitter Board of Directors is committed to concluding the acquisition at the agreed-upon price and terms with Musk and intends to take legal action to enforce the merger agreement. We are optimistic that we will be successful in the Delaware Court of Chancery," Edgett stated.
Musk's legal team announced in a US Securities and Exchange Commission (SEC) filing that he is terminating the agreement because Twitter was in "material violation" of their agreement and made "false and misleading" claims during talks. In response, Twitter said that it will sue Musk for cancelling the $44 billion acquisition agreement.
Twitter Chairman Bret Taylor stated in the following tweet that the "board is dedicated to complete the acquisition on the price and terms agreed upon with Musk and plans to pursue legal action to enforce the merger agreement."
Musk had put the transaction on hold due to concerns about the real amount of spammy/fake accounts and bots on the network, and had asked Twitter CEO Parag Agrawal for a response. Twitter said on Thursday that it suspends more than 1 million spam accounts every day.
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