Elon Musk accuses Twitter of 'fraud'

Tesla boss Elon Musk has accused Twitter of “fraud” in the lawsuit over the $44 billion deal he signed to acquire the social network.

In arguments filed Thursday evening in a Delaware state business court, Musk accuses Twitter of defrauding the number of monetizable accounts on the social network.

A legal battle is engaged between the richest man on the planet and the social network.

Elon Musk’s lawyers accuse Twitter of having “hidden the truth” about the number of 238 million monetizable daily users claimed by the social network.

According to them, they are about 65 million less and “the majority of advertisements” would only be broadcast to “less than 16 million users, a fraction” of what Twitter claims.

The complaint, which calls “misrepresentations” of the social network “sins”, claims that “Twitter frantically blocked information from circulating in a desperate attempt to prevent (Elon Musk) from discovering the fraud”.

In mid-July, Twitter sued Elon Musk in the Delaware Court of Chancery, a court specializing in business law, to force him to honor his acquisition commitment for $ 44 billion. The trial is due to start on October 17.

Two weeks later, the richest man in the world had counter-attacked with a “confidential” complaint.

Elon Musk approached Twitter in April, then signed a buyout deal for $54.20 a share.

He unilaterally ended it in early July, on the grounds that the San Francisco-based company allegedly lied about the proportion of automated and spam accounts on its platform.

Tesla boss accuses board of covering up true proportion of inauthentic accounts Twitter estimates it to be less than 5%.


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