After Musk's Attack, Twitter Was Sued By Shareholders To Disclose False Account Documents

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The US billionaire Musk's acquisition of the twitter website has evolved into a "soap opera", and new plots are constantly being staged. A few days ago, a retail shareholder of twitter sued the company. The shareholder asked the judge to force the company to hand over documents about the platform's false accounts and robot accounts. You know, in Musk's $44billion acquisition of twitter, fake accounts and robot accounts have become the focus.

On Tuesday local time, John solak, an American investor holding five twitter shares, filed a petition against twitter in the Chancery Court in Delaware. Sorac asked to disclose some communication documents between Twitter's internal directors and management, which were about false accounts and robot accounts.

Musk, as the head of Tesla and SpaceX, announced this week that Twitter was violating the terms of his acquisition plan of $54.2 per share. The company did not provide more sufficient information on false accounts and false traffic on the platform as required. Musk warned that if the question was not answered satisfactorily, he would cancel the acquisition plan.

In the complaint, sorac said that as a shareholder, the purpose of requesting the above documents and records is to investigate whether the twitter board of directors has violated its legal duties on behalf of shareholders, and whether it has correctly supervised the external information disclosure of twitter for false accounts.

Twitter hasn't commented on sorac's lawsuit.

It is reported that Twitter is registered in Delaware, which is also the registered place of 60% of the "Fortune 500" companies in the United States. U.S. investors often file lawsuits against listed companies in Tesla state, asking for relevant internal information for use in other lawsuits against listed companies or directors. Of course, shareholders also need to prove sufficient reasons for obtaining internal documents.

Currently, in the "soap opera" of the acquisition transaction, musk is grasping the problem of false twitter accounts and robot accounts. In the regulatory documents submitted, musk said that Twitter publicly reported that the proportion of robot accounts in all accounts was less than 5%, but he thought that this proportion might reach as much as 20%. He asked twitter to provide him with more details and documents of the false account.

The twitter documents solak applied to obtain also involved the communication between the twitter management and the board of directors on some issues, such as Musk's disparaging criticism of twitter managers in the past, whether it has damaged twitter, and what countermeasures the management has taken to mitigate risks.

Before that, musk had shelled Vijaya gadde, the chief lawyer of twitter, accusing him of being the most important active person supporting content censorship within twitter. Musk accused that it was Gade that prompted the twitter platform to prevent users from forwarding a report about hunter, the son of US President Biden, in the US New York Post.

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