- The court ordered Twitter Inc TWTR to provide Tesla Inc TSLA chief Elon Musk with documents from a former Twitter executive whom Musk said was instrumental in calculating the number of fake accounts on the platform, Reuters reports.
- The court ordered Twitter to collect, review and produce documents from former General Manager of Consumer Product, Kayvon Beykpour.
- Bot and spam accounts on Twitter have become pivotal in the legal fight over Musk's potential $44 billion takeover of the social media company.
- Also Read: Elon Musk's Name Used With Verified Twitter Profile Of Hacked Indonesian Consulate To Dupe Unsuspecting Users Of Bitcoin
- Beykpour quit Twitter after it agreed in April to Musk's takeover. Beykpour's departing tweet sounded like Twitter ousted him during his paternity leave.
- However, the court denied Musk's request for access to 21 other people with control over relevant information.
- Musk accused Twitter of fraud for misrepresenting the number of active users on its platform, which Twitter has denied.
- Twitter accused Musk of breaching his agreement to acquire the company and sought a court order to complete the deal at $54.20 a share.
- Musk alleged that fake users make up at least 20% of all Twitter accounts, possibly as high as 90%.
- However, Twitter CEO Parag Agrawal clarified that spam accounts make up fewer than 5% of total users.
- Price Action: TWTR shares traded lower by 0.63% at $44.22 in the premarket on the last check Tuesday.
- Image by PhotoMIX-Company from Pixabay
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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