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Elon Musk accuses Twitter of fraud in buyout deal Elon Musk

Elon Musk accuses Twitter of fraud in buyout deal

India Blooms News Service | @indiablooms | 05 Aug 2022, 11:59 pm

San Francisco/IBNS:  Tesla chief Elon Musk has accused Twitter of fraud and alleged that the social media platform has misled him about key aspects of its business before he agreed to a $44 billion deal amid a court battle.

The Tesla boss lodged the claim late Thursday as he fights back against Twitter's lawsuit seeking to force him to close the deal.

Musk argued in the filing to a Delaware court that the number of users who can be shown advertising on the platform is far below the firm's figures.

"Twitter's disclosures have slowly unraveled, with Twitter frantically closing the gates on information in a desperate bid to prevent the Musk Parties from uncovering its fraud," the claim alleged.

In its own filing, Twitter rejected the billionaire's argument, calling it "as implausible and contrary to fact as it sounds."

"According to Musk, he -- the billionaire founder of multiple companies, advised by Wall Street bankers and lawyers -- was hoodwinked by Twitter into signing a $44 billion merger agreement," Twitter said.

Elon Musk last week filed his countersuit along with a legal defence against Twitter's claim that he is contractually bound to complete the takeover deal.

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