A new hope for Elon Musk? An anonymous Twitter source just uploaded the world's richest man's smackdown

It's like a seesaw. The situation regarding Elon Musk and Twitter has been dragging on for several months now, and its course sort of describes a sine wave. The bottom line, however, is that Elon Musk considers a large portion of Twitter accounts to be bots and is trying to push the company into admitting that it is.

It's even gone so far as to turn the effort to buy Twitter into what has effectively become an "honour" trial between the social platform's parent company and the world's richest man. Now, however, an anonymous source from inside Twitter has come forward with the information that many people had in their minds. But more importantly, it plays right into the hands of the founder of Tesla and SpaceX. He's more or less got a fresh wind in his sails now.

The feud between Musk and Twitter has been dragging on for a while now.

But the source didn't remain anonymous for long. Most sources on the internet after the initial "rumor" began reporting that the whistleblower was Peiter Zatko. Twitter's former security chief.

In a roughly 200-page statement (sent to US lawmakers and regulators last month), Twitter's former security chief alleges that the social media company made a series of security lapses that he says misled Twitter's board, shareholders and the public.

He called the organisation, and especially its boss Jack Dorsey, "disengaged" and "rudderless".

This is not the first time someone has complained about Dorsey. Apparently, his position as CEO at two giant companies at the same time is to blame. In fact, in addition to Twitter $TWTR, he also runs Block $SQ-7.7%

Outside of the company's CEO, Zatko also attacks the overall leadership and issues regarding privacy and handling of sensitive data. Twitter, understandably, is defending the statement. A spokesperson said Zatko's complaint is "full of inconsistencies and inaccuracies" about the company. "Security and privacy have long been company-wide priorities for Twitter and will continue to be so," they added.

They said it could also just be a case of revenge against Zatko. He was fired from his position as chief security officer by Twitter CEO Parag Agrawal because of poor performance and poor leadership.


What does Elon Musk have to do with this?

Now for the essential part - what does the richest man on the planet have to do with this?

Understandably, this news is very good for him and his lawyers. For it would help his view that Twitter is not handling user data properly and that a number of accounts might not even belong to real people. Which is the topic around which the whole lawsuit originally linked to his planned buyout of the entire company is currently revolving.

Twitter sued it in July for failing to comply with the purchase agreement. However, there is currently considerably more leaking into his shoes. He failed in his attempt to delay the lawsuit. A judge on Wednesday ruled that the case will continue in Delaware from October 17, ruling that Musk's request to push it back to November would harm Twitter's business.

The social media company is suing Musk over his decision to back out of the deal and is demanding that he complete the transaction on the agreed terms.

However, McCormick of the Delaware court ruled that Musk's countersuit against Twitter, which will be heard at the same time, can be expanded to just include Peiter Zatko's allegations. This could, of course, play a big role in the outcome.

As I mentioned above - Zatko, the former head of Twitter's security department, said in the complaint that the company"grossly neglected several areas of information security." What's significantly more important, however (and only cited by some sources), is the fact that Twitter allegedly lied to Musk about the bot accounts - one of the key points of his argument for cancelling the deal.

Musk's legal team argued in Delaware on Tuesday that justice required a five-day stay of the trial so Musk could investigate Zatko's claims. Musk argued that Zatko's claims constituted a"material adverse effect on the company" that materially altered the value of the business and therefore rendered the deal invalid.

What effect does this have on Twitter?

Twitter's price chart

Twitter's current price understandably reacts drastically to any slightest news regarding Elon Musk or the ongoing trial. Since the fizzle following the announcement of a potential purchase of the company in April, which came out of nowhere, the price hasn't changed much since steadying in May. It remains around $40 and has moved more or less only to the right.

The question is what happens after the trial and the ruling. But that is really only a question for the crystal ball. Situations like this are extremely difficult to predict even normally. It is impossible to predict anything involving Elon Musk. Anyway, I'm interested in your opinion!

What do you think? Can new "secret" information turn the court in Musk's favor and the purchase really won't happen definitively?

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Disclaimer: This is in no way an investment recommendation. This is purely my summary and analysis based on data from the internet and a few other analyses. Investing in the financial markets is risky and everyone should invest based on their own decisions. I am just an amateur sharing my opinions.

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