Twitter shareholders on Tuesday approved Elon Musk's $44 billion buyout deal, ndtv.com quotes news agency AFP.
The vote followed Musk wishing to scrap the deal, thus casting aspersions on the social media account's 'maligned' reputation of fabricated accounts and alleagtions that the firm was not game for clarification of the numbers.
Twitter had justified its figure of less than "5% of monetizable daily active users being spam or fake and has said it’s provided Musk plenty of information meeting the requirements of the deal," added cnbc.com.
Earlier, Twitter Inc., had asked a Delaware, Maryland, court to force billionaire businessman Elon Musk to honor his commitment to buy the company for $44 billion (€43.8 billion).
Musk had announced that he was backing out of the $44 billion. Twitter said Musk had "mounted a public spectacle" and "trashed the company" in its filing.
"Having mounted a public spectacle to put Twitter in play, and having proposed and then signed a seller-friendly merger agreement, Musk apparently believes that he — unlike every other party subject to Delaware contract law — is free to change his mind, trash the company, disrupt its operations, destroy stockholder value, and walk away," the filing had stated.
"Musk refuses to honour his obligations to Twitter and its stockholders because the deal he signed no longer serves his personal interests," the company had said.
Twitter filed its lawsuit in the Delaware Court of Chancery, where Twitter and many other corporations are incorporated.
Musk had announced that he was terminating the deal claiming Twitter had violated the agreement by failing to respond to requests for information regarding fake accounts on the platform.
Twitter said that it was providing Musk with a "firehose" of raw data on hundreds of millions of tweets. Twitter has said for years in its regulatory filings that it believes around 5% of accounts on the platform are fake.
Musk also alleged that Twitter broke the agreement when it fired two top managers and laid off a third of its talent-acquisition team.
Twitter slammed Musk's exit strategy as a "model of hypocrisy" in its filing. According to the filing, Musk initially wanted to acquire the company and take it private as a way to purge Twitter of spam.
Twitter accused Musk of "shifting his narrative" following a decline in Tesla stock, as he later demanded "verification" that spam was not a serious problem on Twitter's platform. Tesla's stock, which represents Musk's primary source of wealth, dropped in value during a stock market selloff in May.
