Musk Accuses Twitter Of Fraud In The $44 Billion Twitter Deal

Musk filed his counterclaim last week that he is contractually obligated to complete the acquisition deal.

Mumbai: Elon Musk accused Twitter of fraud on Thursday, claiming the social media platform misled him about important aspects of his company before agreeing to a $ 44 billion acquisition as their lawsuit heats up and he wants to cancel the
Musk said in a Delaware court filing that the number of users who have actually posted ads on the platform is about 65 million, less than the company’s 238 million figure.

“The Twitter revelations have slowly unfolded, with Twitter frantically closing its gates to information in a desperate attempt to prevent Musk’s parties from exposing his fraud,” the statement said.

Elon Musk is asking the court to release him from the deal and ask Twitter to compensate him to be determined at the trial, which will begin on October 17.

Billions of dollars are at stake, but so is the future of Twitter, which Musk says should allow for any legal discourse, an absolutist stance that has raised fears that the network could be used to incite violence. In its own filing, Twitter dismissed the leaping billionaire’s argument, calling it “as implausible and contradictory as it sounds.”

Musk filed his counterclaim last week, which was finally made public on Thursday, along with a legal defense against Twitter’s claim that he is contractually obligated to complete the acquisition deal.

The entrepreneur accused Twitter of not only cheating him, but also of lying to US market regulators.

Musk relied on Twitter filings with the Securities and Exchange Commission because he thought doing his own diligence – digging into the company’s value – was “expensive and inefficient,” according to his claim.

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