Elon Musk accuses Twitter of spam fraud

Elon Musk accuses Twitter of spam fraud

Tesla billionaire owner Elon Musk has accused Twitter of fraud. Musk said the social media company misrepresented the condition of its business and key metrics about users on its platform before it agreed to acquire the company for $44 billion in April.

Musk said in an appeal made public on Thursday that he decided to terminate the merger agreement upon learning of what he described as troubling facts. He cites, for example, the reaffirmation of the daily average of monetizable Twitter users days after signing the pact.

And that Twitter was allegedly incorrectly counting the number of fake accounts and spam.

“Twitter’s own disclosures to the parties show that while Twitter claims to have 238 million ‘monetizable daily active users’, users who actually see ads (and therefore would reasonably be considered ‘monetizable’) are around 65 million less than what Twitter represents,” Musk said in a court filing.

Twitter chairman Bret Taylor said in a tweet on Thursday that Musk’s claims “are factually inaccurate, legally insufficient and commercially irrelevant”.

He also said that the company looks forward to hearing the case in Delaware, which is scheduled for October 17.

Source: CNN Brasil