court battle between multi millionaire Elon Musk and Twitter escalated this Friday. The businessman then accused the social network of “fraud” within the framework of the $44,000 million acquisition deal with the company and wants to withdraw from it.

In response to a lawsuit from Twitter seeking a court order forcing Musk to buy the company, Musk has filed an indictment (which is reasonable to set up) against Twitter in a special labor court in the state of Delaware for misrepresenting the number of monetizable accounts. income), as AFP can consult on Friday.

Court battle between Elon Musk and Twitter

Twitter and the world’s richest man face a court battle in Delaware.

Musk’s lawyers are now accusing Twitter of “masking the truth” about the social network’s estimated 238 million daily monetizable users.

According to Musk’s legal representatives, they are about 65 million less. And most of the ads are only served to less than 16 million users, which is a tiny fraction of what Twitter reports.

“Twitter has frantically blocked the dissemination of information in a desperate attempt to prevent Elon Musk from discovering the fraud,” the complaint said.

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In mid-July, Twitter brought Musk to the Delaware Chancery Court, a court specializing in labor law. All in a quest to force him to honor the deal. The process will begin on October 17.

Two weeks later, the billionaire boss of Tesla and SpaceX responded with a “secret” lawsuit.

After entering the capital of Twitter, a favorite social network, Musk signed an acquisition deal for $54.20 per share.

At the end of July, he unilaterally ended that understanding, arguing that the San Francisco-based firm had lied about the rate of automated accounts and spam on its platform.

Differences

Musk accuses Twitter’s board of hiding the true proportion of fake accounts, which the social network estimates is less than 5% of existing accounts.

His lawyers now say that official documents submitted by the platform to US stockbrokers (SEC) “contain multiple misrepresentations and omissions that misrepresent Twitter’s value and led to Elon Musk agreeing to buy the company at an inflated price.”

Twitter’s strategy consisted of “playing hide and seek” to prevent the recipient from “discovering the truth” for as long as possible.

Twitter points out that the businessman supports the negotiations and that the deal never mentions fake accounts. His lawyers denounced “Since the stock market crash, Musk’s attempt to evade a contract he no longer finds interesting”.

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Shares of Twitter fell to about $32 on July 11 amid a decline in ad revenue from social networks due to the general weakening of the market in recent months, the economic climate, and public criticism of Musk.

Shares of the social network rose 3.56% to $42.52 this Friday.

Meanwhile, Tesla fell 6.63% to $864.51.