Tesla CEO Elon Musk has accused Twitter of fraud in his countersuit against the social media company. Twitter filed a lawsuit against the billionaire to force him to go through with the $44 billion deal to buy the platform. “The Musk parties bring their counterclaims for breach of contract and rescission on the basis of Twitter’s fraud.”
Elon Musk’s Legal Battle With Twitter Intensifies
Tesla and Spacex CEO Elon Musk has filed a counter-lawsuit against Twitter after the social media giant sued him for terminating the $44 billion deal to buy the platform. Musk’s countersuit, filed Thursday and published Friday, states:
This action arises out of Twitter’s misrepresentations to the Musk parties regarding the condition of the company and the ‘key metrics’ Twitter uses to evaluate the number of users on its platform.
“Twitter was miscounting the number of false and spam accounts on its platform, as part of its scheme to mislead investors about the company’s prospects by focusing on its purported hundreds of millions of mDAU,” Musk alleged. The social media company defines monetizable daily active users (mDAU) as “users who logged in and accessed Twitter on any given day through Twitter.com or Twitter applications that are able to show ads.”
The countersuit describes: “After signing the merger agreement, however, the Musk parties learned troubling facts that have called into serious doubt Twitter’s representations.”
“While Twitter asks the court to force the Musk parties to close over Twitter’s misrepresentations and contractual breaches, the Musk parties seek relief from the grave inequity of such a result,” Musk’s lawyers noted, elaborating:
Accordingly, the Musk parties bring their counterclaims for breach of contract and rescission on the basis of Twitter’s fraud.
Twitter filed a series of rebuttals to Musk’s countersuit Thursday, accusing the Tesla CEO of cherry-picking numbers and misrepresenting how its online ad system works.
Bret Taylor, a Twitter board member, tweeted in response to Musk’s allegations:
Twitter filed a response to Mr. Musk’s counterclaims. His claims are factually inaccurate, legally insufficient, and commercially irrelevant. We look forward to the trial in the Delaware Court of Chancery.
Twitter has subpoenaed crypto exchange Binance and more than a dozen of Musk’s advisers and would-be lenders as part of its lawsuit against the Tesla CEO. In May, Musk revealed that he had
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