In a letter to the company on Monday, the Tesla and SpaceX founder accused Twitter of “resisting and thwarting” its right to know regarding the platform’s fake accounts. He called the social network executives’ refusal an “obvious material violation” of the terms of their takeover agreement.
“Mr. Musk reserves all rights hereunder, including his right not to complete the transaction and his right to terminate the merger agreement,” reads the letter signed by one of Mr. Musk’s lawyers.
Twitter stock was down 5% on Monday morning when Wall Street opened.
Mr Musk has complained in recent weeks regarding the “bot” problem on Twitter, saying the deal was “on hold” until the company proves the exact number of its spam accounts.
