Tesla CEO Elon Musk’s counter-suit against Twitter was revealed Friday, making bold new claims about the way social media accounts for bots and spam accounts.
The Washington Post Reports Elon Musk’s Twitter hostility lawsuit was revealed on Friday and contains stringent allegations about Twitter’s methods of calculating bot and spam accounts. Musk accused Twitter of misleading his Wall Street team about its advertising base.
Musk is trying to use these allegations to justify backing out of the $44 billion acquisition. Musk argues that as he learned more about Twitter’s process for determining the accounts’ credibility, he became more concerned and decided the deal was no longer viable.
Musk stated during Tesla’s recent annual shareholder meeting, “I understand the product very well, so I think I have a good sense of where the engineering team should be directed with Twitter to make it fundamentally better. I think it’s something that will be very beneficial for the world.”
Musk’s suit shows that he wants to break free from the deal he agreed to in April to buy the site. Musk alleges that Twitter has engaged in fraud, breach of contract and a violation of the Texas Securities Act. Musk’s lawyer argues that while Twitter claims to have 238 million monetized daily active users, the percentage that actually sees ads is 65 million lower.
Musk also claims that the majority of ads appear only to fewer than 16 million users, which is less than seven percent of the number of users who claim Twitter can earn the company’s revenue by viewing ads.
The counterclaim alleges: “Twitter played a months-long game of hide-and-seek to try to run out of time before the Musk teams could discern the truth of these assertions, which they needed to shut down.” “The more Twitter evaded simple inquiries, the more suspected that Musk members had been misled by Twitter.”
Read more in Washington Post over here.
Lucas Nolan is a reporter at Breitbart News who covers issues of free speech and online censorship. Follow him on Twitter Tweet embed