His complaint called “distorted representations” of the social network “sins”. Elon Musk, himself being sued by Twitter over his failed takeover bid, filed the 165-page arguments in his own lawsuit against the blue bird in a Delaware state business court Thursday night. He accuses Twitter of cheating on the number of monetizable accounts on the social network.
The billionaire’s lawyers have accused the company of “hiding the truth” about its alleged 238 million monetizable daily users. According to this, it is about 65 million fewer and “the majority of the advertising” is only “broadcast to fewer than 16 million users, a fraction” of what Twitter claims.
game “hide and seek”
Finally, the complaint alleges that “Twitter frantically blocked the spread of the information in a frantic attempt to prevent (Elon Musk) from exposing the scam,” conjuring up a “game of hide-and-seek” to keep the buyer at it for as long as possible prevent “knowing the truth”.
Twitter responded that the businessman rushed the negotiations and that the deal never mentioned the fake accounts, and the social network’s lawyers denounced an “attempt to break out of a deal that Musk hasn’t found interesting since the stock market crashed.”
Four months of twists and turns
This complaint is yet another twist in the affair between Twitter and the Tesla boss, as the latter had his mind set on buying it last April. After signing a buyout deal for $54.20 per share, Musk unilaterally canceled the deal, claiming that the San Francisco-based company allegedly lied about the proportion of automated and spam accounts on its platform.
In mid-July, Twitter sued Elon Musk in the Delaware Court of Chancery, a court specializing in commercial law, to force him to redeem his $44 billion acquisition commitment. A trial set to open on October 17. Two weeks later, the richest man in the world responded with a “confidential” complaint.
The confrontation has left its mark on Twitter. Between the general decline in the stock market over the past few months, the decline in social media advertising revenue related to the economic situation, and public criticism of Elon Musk, the stock plummeted to around $32 on July 11. It was worth $41.97 on Friday, up 2.20%.