Elon Musk plans to sue Twitter

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The capricious businessman is already being sued by the platform after giving up buying the social network in early July.

Elon Musk, who is being sued by Twitter for breaching his commitment to acquire the social network, struck back on Friday by filing a lawsuit against Twitter in a Delaware court, says the Wall Street Journal. This confidential complaint is not yet publicly available.

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In what promises to be an escalation of legal battles, the Tesla boss filed his countersuit shortly after the judge overseeing Twitter’s lawsuit decided on October 17 as the date for the start of hostilities.

One of Elon Musk’s requests relates to the allegation that Twitter lied about its number of redeemable users after accepting his buyout offer, the newspaper understands.

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A lawsuit filed against Musk by Twitter on July 12

Elon Musk had announced in April his intention to buy the social network for 44,000 million dollars but had finally declared in early July that he was terminating the agreement, alleging that the San Francisco-based company had, according to him, lied about the proportion of accounts automated and spam on your platform.

Twitter had filed a complaint on July 12 in a Delaware court (northeast) to force the richest man in the world to fulfill his purchase commitment. The social network, which claims that less than 5% of its active users are not authentic, is seeking to enforce the agreement or seek severance pay, estimated at $1 billion.

Elon Musk had promised to offer $54.20 per Twitter share. But between the general decline of the stock market in recent months, the drop in advertising revenue that affects the social network and criticism of the billionaire in the public square, the stock of Twitter had plummeted quickly to fall to about 32 dollars a July 11, the day before his complaint against Elon Musk. It was trading at $41.61 on Friday.

Author: JF with AFP
Source: BFM TV

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