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Twitter denied that he misled Elon Musk at the time of agreeing to buy the social network for $44 billion.
The notion that Musk was “cheated” into agreeing to the purchase “defies explanation and facts,” the company said in a statement released as the billionaire struggles to back out of a deal he signed in April, promising buy a company. founded company.
Tesla’s owner’s statements are “factually inaccurate, legally insufficient, and commercially inappropriate. We want this process to take place,” Bret Taylor, Chairman of the Board of Directors of the platform, wrote on Twitter.
judicial confusion
In the middle of July, Twitter filed a complaint against Elon Musk before a Delaware court specializing in commercial law to force the mogul to honor his obligation to buy the social network.
“According to Musk, a billionaire founder of several companies who was advised by bankers and Wall Street lawyers, Twitter tricked him into signing the agreement, ”the social network says.
For its part, the richest man in the world filed a “confidential” lawsuit last Friday.
“This is an attempt to sidestep a deal that Musk is no longer interested in as the stock market crashed,” the platform’s lawyers say.
In April, Elon Musk signed a $54.20 per share deal that he unilaterally terminated in early July because he said the San Francisco-based company misled him about the percentage of automated and spam accounts on the platform.
According to the response document sent Twitter, the Tesla owner accuses the board of directors of hiding the real percentage of non-authentic accounts, which he says is in the order of 10% of active daily users. But Twitter Consider this figure less than 5%.
According to Musk’s lawyers, the strategy Twitter it consisted of hiding and “overcharging” the company so that the buyer would not “learn the truth” for as long as possible.
The trial is due to begin on October 17 and is estimated to last five days. (AFP)
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Source: RPP
I’m Liza Grey, an experienced news writer and author at the Buna Times. I specialize in writing about economic issues, with a focus on uncovering stories that have a positive impact on society. With over seven years of experience in the news industry, I am highly knowledgeable about current events and the ways in which they affect our daily lives.