Twitter Inc. shareholders on Tuesday approved a $44 billion buyout by Elon Musk. The matter of Twitter purchase deal is currently going on in the court. According to reports, billionaire Elon Musk wants to back down from buying Twitter. Meanwhile, Twitter said on Tuesday that preliminary calculations showed shareholders supported Elon Musk’s bid to buy the social media platform for $44 billion.
The decision was taken during the online meeting of shareholders on Tuesday. The meeting lasted hardly a few minutes. Most of the votes were cast online. Twitter has sued Musk to complete the deal, and its trial will begin in October.
Earlier on Tuesday, a former security chief of Twitter told the US Congress that the social media platform is grappling with weak cyber security, privacy threats and an inability to control millions of fake accounts. Renowned cyber security expert Peter M Jetko appeared before the Senate Judiciary Committee to argue his allegations.
He said Twitter is misleading the public, lawmakers and regulators and the platform is more than a decade behind the industry’s best benchmarks. JETCO’s claims could also stymie efforts to back Tesla owner Elon Musk’s $44 billion deal to buy Twitter.
Get the more latest news updates