Elon Musk
Elon Musk accuses Twitter of fraud in buyout deal
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.
Support Our Journalism
We cannot do without you.. your contribution supports unbiased journalism
IBNS is not driven by any ism- not wokeism, not racism, not skewed secularism, not hyper right-wing or left liberal ideals, nor by any hardline religious beliefs or hyper nationalism. We want to serve you good old objective news, as they are. We do not judge or preach. We let people decide for themselves. We only try to present factual and well-sourced news.
