19.5 C
New York
Sunday, September 25, 2022

Latest Posts

Elon Musk countersues Twitter

- Advertisement -


- Advertisement -

Elon Musk countersued Twitter in the midst of the controversy generated after announcing that it is no longer going to buy said social network, according to information collected by The Wall Street Journal.

It is worth remembering that at the end of April they agreed to sell Twitter for US$44,000 million, and for this reason they want the South African tycoon to comply with the agreement after taking it to court.

However, the CEO of Tesla filed this appeal in a Delaware court last Friday, July 29, stating that one of the main reasons for stopping the transaction was that Twitter gave him wrong information about the number of false accounts circulating in this social network.

- Advertisement -

According to the legal team of Elon Musk, the high presence of spam accounts is key to the value of Twitter, for which they request a “substantial time” for a research more detailed, since it is “unnecessary” to act with a tight schedule. However, The Wall Street Journal emphasizes that the full content of the counterclaim remains secret.

Cooperation of the parties

The president of the Specialized Commercial Law Court of Delaware, Kathaleen McCormick, explained that this October 17 the trial between the CEO of Tesla and Twitter will begin, for which she urged both parties to “cooperate in good faith” and avoid delays in the litigation. . This process is expected to take at least five days.

Financial impact

Some days ago Twitter detailed that during the first semester of 2022 it earned US$243.3 million, 82% more than in the same period of 2021; but, during the second quarter, losses of US$270 million were recorded.

This period coincides with the famous purchase and subsequent cancellation given by Elon Musk. The social network blames “pending acquisition uncertainty.”

Source: Larepublica

- Advertisement -

Latest Posts

Don't Miss

Stay in touch

To be updated with all the latest news, offers and special announcements.