lon Musk criticized Twitter as "actively resisting and frustrating its information rights and corresponding obligations to the company" under the billionaire 's $44 billion takeover deal; Because the social network refuses to provide data to support its claims about fake accounts and spam.

Mask threats

According to Variety, Musk, who launched his takeover bid for Twitter in April, threatens to revolutionize the deal on the issue, describing the social media site's rejection of the fake account's percentage as a "material breach."

Twitter shares were down more than 5% in early trading on Monday after the latest disclosure, to about $38 a share, 30% less than Musk's original bid of $54.20 a share.

In May, Musk said his Twitter deal was "temporarily on hold", citing the need to do due diligence over Twitter's claim that fake accounts and spam account for less than 5% of daily active users.

Twitter deal file with the Securities and Exchange Commission

Monday's SEC filing included a June 6 letter from Musk's attorney to Twitter, saying that the company had "refused to provide information repeatedly requested by Mr. Musk since May 9, 2022, to facilitate his assessment of spam and fake accounts on the company."

Twitter deal suspended due to percentage of fake accounts

Elon Musk says the Twitter deal "can't go ahead" until the company proves it had spam or fake account numbers.

The letter states, "This is a material breach of Twitter's obligations under the merger agreement and Mr. Musk reserves all rights arising therefrom, including his right not to complete the transaction and his right to terminate the merger agreement."

The letter from Musk's attorney said Twitter is required "to provide the data and information requested by Mr. Musk in connection with the completion of the transaction; Mr. Musk has the right to request it, and Twitter is obligated to provide information and data for, among other things, any reasonable business purpose related to the completion of the transaction.”

 if Twitter is confident in its reported estimates of spam, Mr. Musk does not understand the company's reluctance to allow Mr. Musk to independently assess these estimates," the letter said.

Twitter did not immediately respond to a request for comment on Musk's message.

Without citing any evidence for the claim, Musk tweeted last month that the active user base on Twitter could be "20% fake/spam accounts" four times what the company claims, and "could be much higher."

Parag Agrawal, Twitter CEO, responded to Musk's questions about the issue, tweeting in part: "Unfortunately, we don't believe this specific assessment can be made externally, given the critical need to use public and private information."