US Federal Authorities Investigating Elon Musk's Attempt To Acquire Twitter - Court Filing

WASHINGTON (UrduPoint News / Sputnik - 14th October, 2022) Billionaire entrepreneur Elon Musk is under investigation by the US Federal authorities for his activity surrounding the attempted purchase of the social media company Twitter, lawyers representing the company said in a court filing.

"Elon Musk is presently under investigation by federal authorities for his conduct in connection with the acquisition of Twitter. Through counsel, he has exchanged substantive correspondence with those authorities concerning their investigations. Twitter wants those documents, because they bear upon key issues in this litigation," the court filing said on� Thursday.

Musk initially agreed to purchase Twitter in April for approximately $44 billion before the deal was halted by lawsuits stemming from Musk's concerns about the number of fraudulent accounts on the social media platform.

Musk's claim that the true number of fake accounts is higher than Twitter reported was the basis for stoppig the acquisition deal.

Twitter has accused Musk of attempting to back out of a deal, which they claim he is contractually obligated to see through to completion.

Last week, Musk informed Twitter he would go ahead with the acquisition deal as part of a larger plan to create "X, the everything app," but did not elaborate.