Musk accuses Twitter of misleading him, social network denies: “That story is so unbelievable” | Abroad

The claims of the Tesla and SpaceX boss “are factually false, legally inadequate and commercially irrelevant. We look forward to the trial,” tweeted Bret Taylor, the platform’s chairman, on Thursday.

“According to Musk, he — the billionaire and founder of several companies, advised by Wall Street bankers and lawyers — was tricked by Twitter into signing a $44 billion acquisition deal. That story is as implausible and contrary to the facts as it sounds,” reads the court document that can be read in its entirety at the bottom of this article.

In mid-July, Twitter sued Elon Musk in the Delaware Court of Chancery, a corporate law court, to force him to fulfill his promise to acquire the company for $44 billion. The trial will begin on October 17.

But last Friday, the world’s richest man countered with a “confidential” complaint. “This is an attempt to escape a contract that Musk no longer finds attractive since the stock market has plummeted,” Twitter’s lawyers said.

Elon Musk approached Twitter in April and signed a deal for $54.20 a share. He unilaterally terminated the deal in early July, alleging the San Francisco-based company lied about the percentage of automated accounts and spam on its platform.

According to the document submitted by Twitter, the Tesla boss accuses the board of concealing the real share of inauthentic accounts, which he believes would be in the order of 10% of daily active users, and would be devoted to advertising. have been exposed. Twitter estimates it at less than 5%.

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