Salem Radio Network News Sunday, December 4, 2022

Business

Twitter responds to Musk’s letter, says it did not breach deal obligations

(Reuters) – Twitter Inc said on Monday payments made to a whistleblower did not breach any conditions of its $44 billion buyout by Elon Musk, after the world’s richest man cited the move as another reason to scrap the deal.

In a Friday letter to Twitter, lawyers for Musk said Twitter’s failure to seek his consent before paying $7.75 million to whistleblower Peiter Zatko and his lawyers violated the merger agreement, which restricted when Twitter could make such payments.

(Reporting by Nivedita Balu in Bengaluru; Editing by Anil D’Silva)

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