Musk's counterclaims were filed confidentially last week and unsealed in a filing late Thursday at the Delaware Chancery Court, the Wall Street Journal reported.
Musk had offered to buy the company earlier this year, then tried to back out of the deal by claiming the social platform was infested with much larger numbers of "spam bots" and fake accounts than Twitter had disclosed.Musk's attorneys argued that Twitter's own disclosures revealed that it has 65 million fewer "monetizable daily active users," who can be shown digital ads, than the 238 million that Twitter claims, the Post and the Journal reported.
The filing also said most of Twitter's ads are shown only to a sliver of the company's user base, the Post said. In an unexpected twist, Twitter filed its response denying Musk's accusations before Musk's own counterclaims surfaced. Twitter called Musk's reasoning "a story, imagined in an effort to escape a merger agreement that Musk no longer found attractive."Copyright © 2022 by The Associated Press. All Rights Reserved.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
News reports: Musk countersuit accuses Twitter of fraudElon Musk accused Twitter of fraud in a countersuit over his aborted $44 billion deal for the social media company, which he said held back necessary information and misled his team about its true user base.
Source: wsfa12news - 🏆 338. / 59 Read more »
Musk countersuit accuses Twitter of fraudAccording to The Washington Post, the countersuit filed by the billionaire and Tesla CEO filed Thursday alleges that Twitter committed fraud, breach of contract and violation of the Texas Securities Act. October 17. Sliver party. Lol. You are unstoppable!
Source: ABC7NY - 🏆 592. / 51 Read more »
Musk response to Twitter lawsuit to be made public by FridayElon Musk’s answer to Twitter’s lawsuit over his attempt to back out of a $44 billion deal to buy the social media company will be made public by Friday evening at the latest, a judge ruled Wednesday.
Source: SpectrumNews1TX - 🏆 333. / 59 Read more »
Musk response to Twitter lawsuit to be made public by FridayA judge has ruled that Elon Musk’s answer to Twitter’s lawsuit over his attempt to back out of a $44 billion deal to buy the social media company will be made public by Friday evening at the latest.
Source: wjxt4 - 🏆 246. / 63 Read more »
Twitter questions banks over whether Musk tried to tank deal | AutoblogTwitter Inc is talking to banks, seeking evidence that Elon Musk tried to torpedo financing of his $44 billion takeover deal for the social media company. How about that they weren’t forthcoming with real statistics and he caught them!
Source: therealautoblog - 🏆 528. / 51 Read more »
Musk response to Twitter lawsuit to be made public by FridayA judge has ruled that Elon Musk’s answer to Twitter’s lawsuit over his attempt to back out of a $44 billion deal to buy the social media company will be made public by Friday evening at the latest.
Source: AKNewsNow - 🏆 460. / 53 Read more »