We use cookies and similar technologies that are necessary to operate the website. Additional cookies are used to perform analysis of website usage. By continuing to use our website, you consent to our use of cookies. For more information, please read our Cookies Policy.

Closing this modal default settings will be saved.

Twitter rejects Elon Musk’s claims and says these are excuses made up to breach the deal.

Owner's Profile

Staff Writer, TLR

Published on July 14, 2023, 17:41:00

84

Twitter, Elon musk, claim, breach, agreement

Twitter on Thursday dismissed Elon Musk’s claims in a Delaware court saying that he was hoodwinked into signing the deal to buy the social media company
According to the statements by the tech billionaire, he was hoodwinked into signing a $44 billion merger agreement with Twitter. 
Twitter rejected counterclaims further saying that it is implausible and contrary to fact.
Musk further claims that Twitter’s misrepresentations run far deeper than simply providing incorrect numbers about spam or false accounts.
 Musk says in the counterclaims that Twitter touts having 238 million ‘monetizable daily active users,’ those users who see ads” is roughly 65 million lower.
Twitter maintains that its disclosures about monetizable daily active users were accurate.
Elon Musk offered to buy Twitter for $54.20 per share in April, saying he believed in Twitter’s potential as a global platform for free speech.
The Tesla CEO Musk sought to back out on July 8 without paying a $1 billion breakup fee, citing the social media’s failure to provide details on bot and spam accounts. 
Twitter sued him four days after this back out and the two parties are heading to a fast-track trial on October 17 in Delaware Chancery Court.

For any enquiries or information, contact info@thelawreporters.com or call us on +971 52 644 3004 

Comments