Twitter lawsuit: Elon Musk strikes back

Pursued by Twitter under US justice for finally giving up on acquiring the social network after it was acquired, Elon Musk has already rolled out his response. The businessman filed a complaint against Twitter on Friday in a Delaware court, AFP reported.

This complaint, contained in a 164-page legal document filed “confidentially” due to trade secrets and other confidential information that may be contained, is not yet available to the public, according to the Delaware Clerk’s notice. But according to the rules of this court, which specializes in business law, Elon Musk will soon have to present a public version.

According to the Wall Street Journal, quoted by AFP, one of Elon Musk’s inquiries concerns the claim that Twitter lied about the number of users it could buy out after it accepted his offer to buy.

Twitter stock plummeted

In April, Elon Musk announced his intention to buy Twitter for $44 billion. However, in early July, he finally announced that he wanted to terminate the agreement. His argument: the social network would lie about the share of automatic accounts and spam.

Read: Elon Musk’s argument about canceling the takeover of Twitter is already going down the drain?

On July 12, Twitter, which found less than 5% of its active users to be inauthentic, then filed a complaint in a Delaware court to force it to meet its obligation to buy out or receive a one billion dollar severance pay. , dollars. The judge who oversaw the trial set the date for the start of hostilities to be 17 October.

Read: Elon Musk vs. Twitter: Why the upcoming trial date is war tendons

Elon Musk has promised to offer $54.20 per share to Twitter. But due to public criticism of the billionaire, as well as a general stock market downturn in recent months and a drop in advertising revenue that is affecting the social network, the social network name has dropped to around $32. July 11, the day before his complaint against Elon Musk. It traded at $41.61 on Friday.

(with AFP)

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