Elon Musk Cancels $44 Billion Deal to Acquire Twitter
According to the filing, Twitter failed to provide information about the number of bots on its platform.
Twitter is plagued with bots. Scammers have accused operators of shilling minor altcoins and spreading propaganda.
Cryptocurrency scams often offer to return two times or more the amount sent to an address.
There have been three arrests in Europe, including one in Florida, on charges related to hacking the Twitter accounts of Elon Musk and several other prominent figures.
In response to the deal, Twitter told employees not to tweet about it and would pursue legal action.
According to Twitter Chairman Bret Taylor, the deal can be pushed through by a Delaware court:
According to Twitter, less than 5% of its accounts are bots. According to some estimates, the percentage could be as high as 50%.
Musk initially turned down Twitter's offer of a board seat due to limitations on the growth of his Twitter stake.
Following the finalization of the deal to acquire Twitter, several Twitter employees reportedly quit, saying that they didn't want to work for the sometimes abrasive Elon Musk.