Elon Musk plans to fight back against Twitter

Elon Musk, who is being sued by Twitter for not acquiring the social network, counterattacked on Friday by filing a complaint against Twitter, according to the Wall Street Journal. He accuses Twitter of lying about the number of users.

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

In April, Elon Musk announced plans to buy the social network for $44 billion, but eventually said in early July that he was terminating the deal on the grounds that the San Francisco-based company allegedly lied about the proportion of automated and spam accounts in its accounts. . Platform.

severance pay

On July 12, Twitter filed a lawsuit in a Delaware court to force the world’s richest man to honor his ransom promise. 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.



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