Elon Musk Says Twitter Legal Team Told He Violated An NDA!

May 14 (Reuters) - Elon Musk on Saturday tweeted that Twitter Inc's (TWTR.N) legal team accused him of violating a nondisclosure agreement by revealing that the sample size for the social media platform's checks on automated users was 100.

"Twitter legal just called to complain that I violated their NDA by revealing the bot check sample size is 100!" tweeted Musk, chief executive of electric car maker Tesla Inc (TSLA.O).

Musk on Friday tweeted that his $44-billion cash deal to take the company private was "temporarily on hold" while he awaited data on the proportion of its fake accounts.

The shares were down 9.6% to $40.71 in trading on Friday, a steep discount to the $54.20 per share acquisition price.

Musk, the world's richest person, decided to waive due diligence when he agreed to buy Twitter on April 25.

To get the San Francisco-based company to accept his "best and final offer." This could make it harder for him to argue that Twitter somehow misled him.

Since Musk inked his deal to acquire Twitter, technology stocks have plunged amid investor concerns over inflation and a potential economic slowdown.

The spread between the offer price and the value of Twitter shares had widened in recent days, implying less than a 50% chance of completion.

As investors speculated that the downturn would prompt Musk to walk away or seek a lower price.

"Twitter deal temporarily on hold pending details supporting calculation that spam/fake accounts do indeed represent less than 5% of users," Musk told his more than 92 million Twitter followers.

His team would test "a random sample of 100 followers" on Twitter to identify the bots. His response to a question prompted Twitter's accusation.

When a user asked Musk to "elaborate on process of filtering bot accounts," he replied, "I picked 100 as the sample size number, because that is what Twitter uses to calculate <5% fake/spam/duplicate." (Reuters)