In Elon Musk’s countersuit, Twitter is being sued for fraud

Sources in the media say that Elon Musk sued Twitter for fraud in a countersuit after he failed to buy the social media company for $44 billion. He said that Twitter withheld important information and lied to his team about how many real users it had.

The billionaire and CEO of Tesla filed a countersuit against Twitter on Thursday, according to the Washington Post. The suit claims that Twitter committed fraud, broke a contract, and broke the Texas Securities Act.

The Wall Street Journal says that Musk’s counterclaims were filed in secret last week and were made public Thursday night in Delaware Chancery Court.

Musk tried to buy the company earlier this year, but he tried to back out by saying there were a lot more “spam bots” and fake accounts on the social network than Twitter had said.

Twitter filed a lawsuit against him to make him finish the deal. Musk responded by filing a lawsuit of his own.

According to the Post and the Journal, Musk’s lawyers said that Twitter’s own filings showed that it had 65 million fewer “monetizable daily active users” who can be shown digital ads than the 238 million that Twitter says it has.

The filing says that most of Twitter’s ads are only seen by a small number of the company’s users. This is what the Post says.

In a surprising turn of events, Twitter responded to Musk’s complaints by ignoring them before Musk’s own claims were made public.

Twitter called Musk’s argument “a story, imagined in an effort to escape a merger agreement that Musk no longer found attractive.” On October 17, the case will go to court.

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The post In Elon Musk’s countersuit, Twitter is being sued for fraud appeared first on NFT News Pro.

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