Twitter said costs related to the Musk acquisition were approximately $33 million in Q2. Severance-related expenses were approximately $19 million in the second quarter. Earlier this month, the company laid off a third of its talent acquisition team, according to The Wall Street Journal.
Twitter is locked in a legal battle with Musk over his proposed $44 billion acquisition of the company. The Tesla CEO has tried to back out of the deal. Musk claims Twitter underreported the number of spam and fraud accounts and failed to provide information about fake accounts. Twitter sued Musk and some of his associates earlier this month over allegations the billionaire “refuses to honor his obligations to Twitter and its stockholders because the deal he signed no longer serves his personal interests.”
Twitter scored an early win on Tuesday when a Delaware Court of Chancery chancellor ruled in favor of an expedited five-day trial to begin in October.
— CNBCs Robert Hum contributed to this report.
