The richest man in the world decided to fight back. According to the legal document, Elon Musk, who is currently suing Twitter for violating its obligation to acquire the social network, just filed a lawsuit against Twitter in a Delaware court.
This complaint, filed as a 164-page “confidential” document, is not yet available to the public, according to the opinion of the Delaware Chancery, the commercial law court in charge of the case.
However, it is expected to be made public soon, and court rules require Elon Musk to release a public version of it after removing any trade secrets or other sensitive information it may contain. But, according to the Wall Street Journal, one of Elon Musk’s claims stems from the allegation that Twitter lied about the number of users it could buy out after it accepted his offer to buy.
Escalation of legal battles
While the judge hearing the lawsuit filed by Twitter set the start of hostilities between the two sides on October 17, Elon Musk decided to counterclaim in the process. An event announcing the escalation of legal battles between the platform and the businessman.
Elon Musk announced in April his intention to buy the social network for $44 billion, but in early July he finally announced that he was terminating the agreement on the grounds that the San Francisco-based company had, he said, lied about the proportion of automated and spam accounts. on his platform.
On July 12, Twitter filed a lawsuit in a Delaware (Northeast) court to force the richest man in the world to fulfill his ransom obligation. The social network, which claims less than 5% of its active users are not authentic, is seeking to enforce the deal or demand a $1 billion severance package.
Elon Musk has promised to offer $54.20 per share to Twitter. But due to a general downturn in the stock market in recent months, a drop in advertising revenue that is affecting the social network, and criticism of the billionaire in public places, the Twitter name quickly collapsed and fell to about $32 on 11 July, the day before his complaint about Elon Musk. It traded at $41.61 on Friday.