Twitter Accused of Fraud. Elon Musk: I Was Misled To Buy It For $44 Billion

05.08.2022 18:00
by Nina Petrov
2 min read

Elon Musk has submitted a filing to a Delaware court, claiming that he was misled by the figures Twitter presented before signing the buyout deal for $44 Billion.

What is happening in San Franciso right now? Elon Musk has just officially accused Twitter claiming they committed fraud by presenting incorrect data before selling the company for the big figure.

Allegedly, the company has claimed that a much larger number of users are advertising on the platform, which is what raised the price of this social media.

Musk has submitted a filing late this Thursday as a response to a lawsuit from Twitter in which they are trying to push him to close the deal, that he tried to cancel.

Twitter’s disclosures have slowly unraveled, with Twitter frantically closing the gates on information in a desperate bid to prevent the Musk Parties from uncovering its fraud.

Twitter is mocking Musk in regards to his claims, saying that the billionaire founder of multiple companies, advised by Wall Street bankers and lawyers — was hoodwinked by Twitter into signing a $44 billion merger agreement.

Sounds like this whole business deal is starting to look like a charade. What will come next, though?

Musk has filed a countersuit against Twitter last week, and they will have their chance to clash on a battlefield scheduled for October 17th. This 5-day trial will take place in Chancery Court in the state of Delaware.

Until then, stay tuned for new spicy updates about this intriguing case.

Author

  • Nina Petrov is a theoretical mathematician, passionate about new trends in the global economy and blockchain technology. She is a devoted content creator and editor, crypto-enthusiast and stock market analyst.

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