Twitter denies Elon Musks allegations of providing him with false

Twitter denies Elon Musk’s allegations of providing him with false information and dragging him into a deal

This week revealed the main terms of Elon Musk’s countersuit against Twitter’s leadership, which he valued at $44 billion in April but had given up on July of his intention to buy that social network’s assets. The lawsuit alleges that Twitter gave it false information about its audience structure, which in itself is sufficient reason to reject the deal.

    Image source: Reuters, Dado Ruvic

Image source: Reuters, Dado Ruvic

Representative of Elon Musk’s interests legal actionthat the actual number of daily active Twitter users being monetized is 65 million fewer than the 238 million people mentioned in the social network’s documentation created for the billionaire deal. According to Musk, the number of consumers of advertising on Twitter pages does not exceed 16 million people, and this is also significantly less than the parameter announced by the company. Lawyers for Tesla and SpaceX bosses are convinced that Twitter management hid reliable data from a potential buyer as it faced a decline in the value of the company’s assets and feared a deal reassessment.

Elon Musk is asking the court to rule Twitter in breach of the terms of the preliminary agreement they reached in April. As of early June, according to experts hired by Musk, at least a third of all active Twitter accounts were questionable, used to spread spam and not associated with real users. The Twitter page insists that all data provided to Musk is reliable, and he is trying to manipulate it to avoid making a deal that is no longer in his interests. Twitter officials also cite the decline in the value of the billionaire’s other assets, such as Tesla shares, as other reasons for Musk’s behavior, the proceeds of which were intended to partially cover the cost of acquiring social network assets.

The most interesting thing is that in the text of Elon Musk’s lawsuit, the billionaire thanks Twitter for the opportunity to openly express his opinions and describes himself as an ardent supporter of the principle of freedom of expression and an active user of the platform. Recall that the hearing on this transaction should take place on October 17 and should be completed within five working days. While the parties try to gather evidence, they can defend their positions in court. Witnesses in the case could be representatives of investment firms and banks with whom Musk corresponded and negotiated to obtain the funds needed to partially pay for Twitter assets.


About the author

Robbie Elmers

Robbie Elmers is a staff writer for Tech News Space, covering software, applications and services.

Add Comment

Click here to post a comment