Elon Musk accuses Twitter of fraud, alleging the social media platform misled him about key aspects of its business before he agreed to a $44 billion buyout
Twitter rejected the mercurial billionaire's argument, calling it"as implausible and contrary to fact as it sounds."
Musk argued in the filing to a Delaware court that the number of users actually shown advertising on the platform is about 65 million lower below the firm's 238 million figure. The entrepreneur accused Twitter of not just deceiving him, but also of lying to US market regulators. He is asking the court to free him from the agreement and make Twitter pay him an amount in damages to be determined at trial, which set to open on October 17.
The legal battle flows from Musk wooing Twitter's board with a $54.20 per-share offer in April, but then in July announcing he was terminating their agreement because the firm had misled him regarding its tally of fake and spam accounts.
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Musk countersuit accuses Twitter of fraudAccording to The Washington Post, the countersuit filed by the billionaire and Tesla CEO filed Thursday alleges that Twitter committed fraud, breach of contract and violation of the Texas Securities Act.
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Elon Musk countersues Twitter, accusing company of fraudElon Musk accused Twitter of fraud in a countersuit over his aborted $44 billion deal for the social media company, which he said held back necessary information and misled his team about its true user base.
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News reports: Musk countersuit accuses Twitter of fraudElon Musk accused Twitter of fraud in a countersuit over his aborted $44 billion deal for the social media company, which he said held back necessary information and misled his team about its true user base.
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Musk countersuit accuses Twitter of fraudAccording to The Washington Post, the countersuit filed by the billionaire and Tesla CEO filed Thursday alleges that Twitter committed fraud, breach of contract and violation of the Texas Securities Act.
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Elon Musk responds: Countersuit accuses Twitter of fraudElon Musk alleges that Twitter committed fraud and breach of contract. The billionaire offered to buy the social media company, then tried to back out by claiming Twitter was infested with “spam bots” and fake accounts.
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Musk response to Twitter lawsuit to be made public by FridayElon Musk’s answer to Twitter’s lawsuit over his attempt to back out of a $44 billion deal to buy the social media company will be made public by Friday evening at the latest, a judge ruled Wednesday.
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