Demetrius Kambouris/Getty Images for the Met Museum/Vogue
On the sidelines of the Twitter acquisition, Elon Musk challenged the social network to prove the share of active fake accounts there (archive photo taken May 2022 in New York).
REDEMPTION OF TWITTER – The series has been relaunched. On Saturday, August 6, Elon Musk challenged the head of Twitter to a public discussion and proving the stake of the fake accounts on the social network, a point of contention brought by the American billionaire to withdraw his bid for purchase, triggering a court battle.
“If Twitter simply presented its method of sampling 100 accounts and how they turned out to be real, the deal should continue on the original terms,” Elon Musk wrote on Twitter on Saturday.
@Andst7 is a good summary of the problem. If Twitter simply provided a method for sampling 100 accounts and how… https://t.co/LANla7n2yr
– Elon Musk
“However, if their statements to the US Securities and Exchange Commission (the Securities Market Regulatory Authority) turn out to be materially false, this cannot be the case,” he cautioned.
A legal battle is expected in October
Elon Musk signed a $44 billion agreement to buy the social network, before it was broken unilaterally in early July. He believes that Twitter lied about the proportion of bot and random accounts on its platform, and even claimed that the social network was “fraudulent”, by deliberately increasing the number of monetized accounts.
“I challenge Parag Agrawal (Twitter CEO) to publicly discuss the percentage of fake accounts on Twitter,” the eccentric Tesla CEO tweeted as well. “Let him prove to the public that Twitter has less than 5% of fake or spam users per day,” he added.
A legal battle is underway now. The trial is scheduled to begin October 17 in the Delaware District Court, a court specializing in business law, and will last five days.
Twitter has already sued the richest man on the planet, to force him to keep his promise. The latter counterattacked in front of the same court, with a complaint asking the court to release him from the agreement and ordering Twitter to pay him damages. Previously, Twitter shareholders would meet on September 13 to allow or not this acquisition, which represents a significant added value for shareholders.
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