A letter written by Twitter's attorneys who want to know what, exactly, is at the center of the federal investigation of billionaire and cowboy hat-wearer Musk.
The SEC and the FTC are mentioned in the letter.
"Elon Musk is currently under investigation by federal authorities for his conduct in connection with the acquisition ofTwitter," read the letter. He has exchanged correspondence with the authorities.
They said that they wanted those documents.
It's striking to say the least. By the time this petition was filed, Musk had sent a letter to the social networking site offering to honor his $44 billion commitment to purchase the organization.
The person who took Musk to court over his attempt to back out of his commitment refused.
The proposal from Musk's lawyer was published on October 6th. They have insisted on proceeding with this litigation, recklessly putting the deal at risk and gambling with their stockholders' interests.
In their October 6 petition, the lawyers for the company stated that they had been asking for all communications with any governmental authority regarding the merger. It seems that they want to know the details of the probes before making any final decisions.
According to the new petition, Defendants' stonewalling is due to the fact that they don't want them to get documents that will undermine their position. That isn't an excuse.
This latest development comes days after one of Musk's investors in the deal said in the clearest of public statements that she's hoping the deal doesn't go through.
According to Musk's lawyers, it's the feds who are in hot water.
They told the publication that it was their executives that were under federal investigation.
In sum, that's it. There is a lot of work to be done in the case of the failed Elon-Twitter buy-out. We want to know what happened between Musk and the authorities as well.
There is an investigation of Musk by the federal government.
The investors in the Musk deal were Horrified that it might actually go through.
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