- The U.S. SEC has investigated Twitter’s approach to detecting spam accounts.
- Elon Musk initially offered to buy out the social media platform for $44B.
This past Thursday, Delaware Court of Chancery judge and chancellor Kathaleen St. J. McCormick issued an order mandating that Twitter Inc. (NYSE: TWTR) furnish further information to Elon Musk, CEO of Tesla and SpaceX. Plaintiff Twitter filed a lawsuit against Musk and his firms X Holdings I and X Holdings II for breach of contract after they backed out of a $44 billion agreement to acquire Twitter. So now Musk is suing Twitter back.
The judge mentioned:
“Read literally, Defendants’ documents request would require Plaintiff to produce trillions upon trillions of data points reflecting all of the data Twitter might possibly store for each of the approximately 200 million accounts included in its mDAU count every day on every three years.”
Dispute Over Spam Accounts
mDAU stands for Twitter users who logged in and visited Twitter on any given day via Twitter.com or Twitter apps that are able to display advertisements, as defined by the social media business.
The order further read:
“Plaintiff is ordered to produce a subset of what Defendants have requested: the 9,000 accounts reviewed in connection with Plaintiff’s Q4 2021 audit, which the parties refer to as the ‘historical snapshot.”
Meanwhile, according to a new regulatory filing made public, the U.S. Securities and Exchange Commission (SEC) has investigated Twitter’s approach to detecting spam accounts. The SEC wrote to Twitter CEO Parag Agrawal on June 15 requesting details on how the firm determines the number of automated accounts.
The twitter buyout spat has been going around for a while with Elon Musk initially offering to buy out the social media platform for $44B.
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