Twitter on Monday dismissed billionaire Elon Musk’s claim that a severance payment given to whistleblower and former executive Peiter Zatko violated the terms of his deal to acquire the social media platform, in a filing that comes just a day before the company’s shareholders are set to vote on the $44 billion buyout deal from the world’s richest man.
In a letter sent to Musk’s attorneys, lawyers representing Twitter said the company “has breached none of its representations or obligations,” according to a filing with the Securities and Exchange Commission (SEC).
The letter said Musk’s attempt to terminate the deal is “invalid” and added that all of its conditions will be met on Tuesday after Twitter’s shareholders vote to approve the merger.
The letter, however, makes no mention of Zatko or his $7.75 million severance pay, which Musk claimed was a breach of the deal.
On Friday, Musk’s lawyers sent a letter to Twitter seeking to terminate the planned $44 billion deal—their third attempt to do so. In the letter, Musk’s team alleged that Twitter’s $7.75 million severance agreement with its former executive, which was signed in June, was done without informing Musk or seeking his consent. The billionaire alleged that this was in breach of his planned buyout of the social media company. Zatko, who served as Twitter’s former head of security, has accused the company of intentionally misleading its users, investors and regulators on the extent of its security...
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