Elon Musk plans to fight back against Twitter

Elon Musk, who is being sued by Twitter for violating its obligation to acquire the social network, counterattacked on Friday by filing a lawsuit against Twitter in a Delaware court, according to the Wall Street Journal.

• Read also: The trial of Elon Musk on Twitter will begin on October 17

• Read also: On September 13, Twitter shareholders will vote for a takeover by Musk

This confidential complaint has not yet been published.

In what promises to be an escalating legal battle, Tesla’s boss filed a countersuit shortly after the judge overseeing the Twitter lawsuit set an October 17 start date for hostilities.

The newspaper understands that one of Elon Musk’s inquiries concerns the allegation that Twitter lied about the number of its users it could buy out after it accepted his offer to buy.

Elon Musk announced in April his intention to buy the social network for $44 billion, but finally announced in early July that he was terminating the agreement on the basis that the San Francisco-based company, he said, had lied about the share of automated accounts and spam on your 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 says less than 5% of its active users are not authentic, is seeking to enforce the agreement 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.

Back to top button

Adblock Detected

Please consider supporting us by disabling your ad blocker.