Twitter lawsuit: Elon Musk strikes back

Pursued by Twitter in US justice for having finally given up acquiring the social network after committing to it, Elon Musk has already deployed his response. The businessman filed a complaint against Twitter on Friday in a Delaware court, AFP reports.

Contained in a 164-page legal document filed “confidentially”, due to trade secrets and other sensitive information it may contain, this complaint is not yet available to the public, according to a notice from the Delaware Court of Chancery. But according to the rules of this court specializing in business law, Elon Musk will soon have to submit a public version.

According to the Wall Street Journalquoted by AFP, one of Elon Musk’s requests relates to the allegation that Twitter lied about its number of redeemable users after accepting his offer to buy.

Twitter stock plummeting

In April, Elon Musk announced his intention to buy Twitter for $44 billion. At the beginning of July, however, he had finally declared that he wanted to end the agreement. His argument: the social network would have lied about its proportion of automated accounts and spam.

Read: Is Elon Musk’s argument to cancel the takeover of Twitter already going down the drain?

On July 12, Twitter, according to which less than 5% of its active users are inauthentic, had then filed a complaint in a Delaware court, to force it to honor its commitment to buy back or obtain severance compensation, estimated at one billion dollars. dollars. The judge overseeing the trial set the date for the start of hostilities as October 17.

Read: Elon Musk vs Twitter: why the upcoming trial date is the sinews of war

Elon Musk had pledged to offer $54.20 per Twitter share. But due to criticism of the billionaire in the public square, as well as the general decline in the stock market in recent months and the fall in advertising revenue which is affecting the social network, the title of the social network has tumbled to around $32. on July 11, the day before his complaint against Elon Musk. It was trading at $41.61 on Friday.

(With AFP)