Monday, August 08, 2022

Musk countersues Twitter, alleging the company has distorted user numbers and value - TheBlaze

Musk countersues Twitter, alleging the company has distorted user numbers and value - TheBlaze

Elon Musk is countersuing Twitter over his scrubbed $44 billion deal, claiming that the social media company withheld critical information and provided misleading data about the actual size of its user base. This countersuit, filed in Delaware Chancery Court last week and unsealed August 4, alleges that Twitter's statements in its SEC disclosures "were far from true. Instead, they contain numerous, material misrepresentations or omissions that distort Twitter's value and caused the Musk Parties to agree to acquire the company at an inflated price."

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