Twitter to pay $150 mn fine amid Jack Dorsey’s exit; Elon Musk revises plan
Twitter Inc has agreed to pay $ 150 million penalty and put in new safeguards to settle federal regulators’ allegations that the social platform failed to protect the privacy of users’ data over a six-year span. The Justice Department and the Federal Trade Commission announced the settlement with Twitter on Wednesday. Meanwhile, Jack Dorsey has stepped down from the board of directors for Twitter. Dorsey was destined to leave the board from the day he stepped down as the CEO. Twitter Inc investors blocked the re-election of an ally of Elon Musk to the board at an annual meeting on Wednesday. Investors voted against Egon Durban, the co-head of private equity firm Silver Lake, who partnered with Tesla CEO Musk on his abandoned bid to take the electric carmaker private. Much more has happened in the last 24 hours in connection to Twitter and Elon Musk. Watch this video to find out.