Twitter’s shareholders have voted to approve a deal with Elon Musk to buy the company for $44bn (£38bn).
The decision was made in a short conference call with investors from the company’s San Francisco headquarters.
It means Twitter will now try to force Elon Musk to buy the company in the courts.
The meeting followed explosive testimony from Twitter’s former head of security Peiter Zatko in front of the US Senate.
In April, Twitter agreed to sell the company to the world’s richest person, Elon Musk.
However, the deal soured after Mr Musk alleged he was misled by Twitter about the number of spam and bot accounts on the platform.
He said he no longer wished to purchase the company in May, but Twitter argues that Mr Musk cannot back out of the deal.
The social media platform says that fewer than 5% of its monetizable daily active users (those who are able to look at adverts) are bots. Mr Musk argues it could be many times higher.
Twitter is currently valued at $32bn, considerably below the $44bn offer from Mr Musk.
Today’s vote could have spelled the end of Twitter’s legal pursuit, but shareholders have now given the company the green light to pursue Mr Musk in court.
The two are set to meet in front of a Delaware state court in October. During the hearing a judge will decide whether or not Mr Musk has to buy the company.
Just before the shareholder decision, Twitter whistle-blower Pieter Zatko was in Washington testifying before the Senate Judiciary Committee about alleged security flaws.
He told US lawmakers the firm was “misleading the public” about how secure the platform is.
The firm’s former head of security went on to say that Twitter was “a decade behind” security standards. Twitter says Mr Zatko Twitter shareholders approve $44bn Musk deal was fired from his job, and that the claims are inaccurate.
Mr Zatko has previously supported Elon Musk’s claim that the platform has more spam and fake accounts than it has admitted – though he didn’t elaborate on this on Tuesday.
Last week, a judge said that Mr Musk’s lawyers would be allowed to use the Twitter whistle-blower’s testimony in court.
It largely focussed on national security issues – and is not officially connected with Mr Musk’s attempt to pull out of the deal to buy Twitter.
Powerball winning numbers for Monday, Dec. 5, 2022; jackpot $89 million
The Powerball lottery selected winning numbers in its drawing on Monday, Dec. 5, 2022, for a jackpot estimated at $89 million. The numbers are 35-45-47-54-55 Powerball 14 Power Play 2x. The Classic Lotto numbers are 3-13-15-17-33-49 Kicker 955356. The jackpot is $2.3...
EasyJet holiday bookings up despite cost-of-living crisis
People are protecting their spending on holidays despite the cost-of-living crisis, the boss of EasyJet has said. Johan Lundgren told the news the airline had seen strong demand for flights over half term, Christmas and New Year despite the "pressure" on households....
China Covid: Factory activity shrinks more than expected
A key measure of China's factory activity has further fallen in November, according to official figures. The Purchasing Managers' Index (PMI) fell to 48 from 49.2 in October. It comes as strict Covid restrictions and weakening global demand weigh on the world's second...
Submit your event
We will be happy to share your events. Please email us the details and pictures at publish@profilenewsohio.com
Address
P.O. Box: 311001 Independance, Ohio, 44131
Call Us
+1 (216) 269 3272
Email Us
Publish@profilenewsohio.com