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Twitter shareholders approve Musk’s bid to buy company

Twitter Inc. shareholders voted Tuesday to approve Tesla Inc. Chief Executive Elon Musk’s $44 billion bid to acquire the embattled company and take it private, pushing Twitter shares up nearly 2%. Musk, however, is attempting to back out of the deal with claims that Twitter underreported fake accounts, prompting Twitter to sue the billionaire for breach of contract. The case is scheduled to go before the Delaware Court of Chancery in October. The shareholder vote came the same day whistleblower Peiter “Mudge” Zatko told a Senate Judiciary Committee hearing that Twitter was “10 years behind” industry security standards and had little grasp of the vast troves of data it collected.

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