Social network Twitter responds to Elon Musk's complaint
Twitter filed its response to Elon Musk's complaint on August 4.
AP - Richard Drew
Text by: RFI Follow
2 mins
The legal soap opera continues between the firm and Elon Musk, and the response of its leaders to the complaint of the billionaire gives a more precise idea of the arguments of the one who seeks to extract himself from the agreement reached with the social network for a takeover which still has not happened.
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Bret Taylor, chairman of the board of directors of the social platform Twitter, said he was looking forward to the trial.
According to him, the elements put forward by Elon Musk, the boss of Tesla and SpaceX, to give up his purchase “
Are factually inaccurate, legally insufficient and commercially irrelevant
”.
The billionaire criticizes the social network "
for throwing smoke in his eyes to get him to sign the takeover agreement
", implying that he lied and concealed the existence of numerous automated accounts and spam on the platform which would be, according to him, around 10% of daily active users.
Twitter estimates it to be less than 5%.
The businessman's lawyers believe that false declarations were filed with the stock market policeman in order to distort the value of the company and lead to an offer "
at an inflated price
".
"
It's an attempt to escape a contract that Musk no longer finds interesting since the stock market fell
," counterattack the lawyers of Twitter.
In other words, the chicken's eggs are no longer golden!
► To read also: Twitter and Elon Musk: the showdown continues
Since March, Twitter and Elon Musk have been inveighing against each other on the Web.
The billionaire, with 100 million subscribers, continues to criticize the firm he coveted a few months ago.
A strategy that has contributed to the weakening of the value of the title Twitter, already weakened by the general decline in the stock market in recent months and the decline in advertising revenue from social networks.
pic.twitter.com/JcLMee61wj
— Elon Musk (@elonmusk) July 11, 2022
► To read also: Takeover of Twitter by Elon Musk: the reasons for an announced failure
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