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

elon musk twitter deal acusses twitter of fraud
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 deal. 
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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