Elon Musk’s Twitter deal draws investor lawsuit over spam account claims
Shareholder wants internal files about bot numbers on platform
By Arghyadeep Dutta
Published - Jun 07, 2022, 08:03 PM ET
Last Updated - Mar 01, 2024, 11:56 AM EST
• Shareholder wants internal files about bot numbers on platform
• Musk threatening to terminate $44 billion buyout deal over bot issue
A Twitter Inc (NYSE: TWTR) shareholder filed a lawsuit against the social media company seeking records related to discussions between its directors and executives about problems with so-called bot accounts.
John Solak, who owns five Twitter shares, sued Twitter in Delaware Chancery Court on Tuesday, saying, “Stockholder’s purpose in seeking these books and records is to investigate the possibility of board-level breaches” of legal duties to investors over directors’ failure to oversee public disclosures of the bot numbers properly.