The legal battle continues. Twitter filed its own response to Elon Musk on Thursday, who himself counterattacked the social network a week earlier in a confidential document. Thus, the network’s response to the bluebird gives a more accurate picture of the billionaire’s arguments against buying Twitter for $44 billion.
“According to Musk, a billionaire who has founded several companies and consults with Wall Street bankers and lawyers, Twitter pelted him with smoke and mirrors to force him to sign a buyout deal,” according to a social media post that finds these arguments. implausible.
Disputes about the number of “monetizable” accounts
According to a document filed on Thursday by Twitter, Tesla’s boss accuses the board of directors of hiding the true proportion of fake accounts, which could affect the company’s finances. According to the Wall Street Journal, Elon Musk accuses Twitter of misleading him about the number of “monetizable” accounts, that is, those that see ads and make money.
Indeed, the social network has long estimated that less than 5% of its “monetizable” daily users were fake accounts. According to Elon Musk, in fact, 10% of active accounts will be exposed to advertising. The social network defends itself in a document released Thursday, explaining that the method used by Elon Musk, available online on a public website, is unreliable. The process of counting fake users is specific and internal to the social network, according to Twitter. In reality, it’s nearly impossible to pinpoint exactly how many fake Twitter users there are, writes the Wall Street Journal.
“We are looking forward to the trial”
Elon Musk accuses Twitter of not sending him the information and data needed to estimate the number of fake accounts and spam, which the social network denies. The Tesla and SpaceX boss’s claims are “factually inaccurate, legally insufficient, and commercially irrelevant.” We can’t wait for the trial,” Bret Taylor, chairman of the platform’s board of directors, tweeted.
“This is an attempt to get away from a contract that Musk no longer finds attractive after the stock market crash,” the social network’s lawyers said. Elon Musk’s lawyers accuse the firm of omissions in documents filed with a US stock market cop that misrepresent Twitter’s value and force “Elon Musk to agree to buy the company at an inflated price.”
Following Twitter’s filing of a complaint with the Delaware Court of Chancery, a court that specializes in commercial law, the trial is due to begin on October 17. Now Twitter is trying to force the businessman to complete the acquisition or pay severance pay.
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