Elon Musk on Saturday urged the Twitter boss to publicly discuss and prove the social network’s share of false accounts, a point of disagreement put forward by the American multibillionaire, to withdraw his purchase offer, starting a legal battle. “If Twitter just provides its method of sampling 100 accounts and how they turned out to be real, the deal should continue on the original terms,” Elon Musk tweeted on Saturday. “However, if it turns out that their statements to the SEC (the US stock market regulator) are false in essence, this cannot be,” he warned.
The Tesla boss signed a $44 billion deal to buy the social network before unilaterally tearing it up in early July. He believes that Twitter lied about the proportion of automated accounts and spam on its platform, and even claims that the social network “cheated” by deliberately increasing the number of monetized accounts.
Twitter takeover: Elon Musk accuses the company of fraud
Litigation will begin at the beginning of the school year
“I urge Parag Agrawal (Twitter CEO) to publicly discuss the percentage of fake Twitter accounts,” the quirky Tesla boss also tweeted. “Let this prove to the public that there are less than 5% of fake or unwanted users on Twitter every day,” he added.
Now there is a lawsuit. The trial is due to begin October 17 in the Delaware Court of Chancery, a court specializing in commercial law, and will last five days. Twitter has indeed sued the richest man on the planet to make him keep his promise. The latter counterattacked the same court with a complaint asking the court to release him from the agreement and order Twitter to pay him damages. Previously, Twitter shareholders will meet on September 13 to decide whether or not to allow this acquisition, which will represent a significant added value for shareholders.
Elon Musk accuses Twitter of ‘splintering his eyes’, Twitter disputes