Tesla CEO Elon Musk has sent a second letter calling off his $44 billion acquisition of Twitter.

‎‎‏‏‎ ‎

Musk’s lawyers filed a new “Termination Letter” with the SEC on Monday, which cites the testimony of whistleblower Peiter Zatko, the former head of Twitter's security, as evidence that Twitter misled Musk in the parties’ merger agreement.

‎‎‏‏‎ ‎

Notably, Musk claims that Twitter’s declaration in the merger agreement that it had not misled the SEC is false, citing Zatko’s allegations. In an interview with CNN last week, Zatko claimed Twitter had misled its own board and government regulators about the security of its platform.

‎‎‏‏‎ ‎

Twitter’s legal representatives has stated Musk’s case is “invalid and wrongful” due to being based on statements by Zatko that are “riddled with inconsistencies and inaccuracies and lack important context”.

‎‎‏‏‎ ‎

To back out of the deal, Musk will need to prove in court that Twitter violated the merger agreement. If he fails to do so, he’ll be required to pay a $1 billion fine or acquire Twitter for the agreed-upon $44 billion.

‎‎‏‏‎ ‎

‎‎‏‏‎‎For more from us at Waivly, join our free fun-to-read and to-the-point newsletter enjoyed by hundreds of people across the internet every day of the week 👇