{"id":8258,"date":"2022-08-06T13:38:01","date_gmt":"2022-08-06T13:38:01","guid":{"rendered":"https:\/\/www.africa-press.net\/sierra-leone\/all-news\/elon-musk-countersues-twitter-alleging-fraud-by-social-media-company"},"modified":"2022-08-06T13:48:34","modified_gmt":"2022-08-06T13:48:34","slug":"elon-musk-countersues-twitter-alleging-fraud-by-social-media-company","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/sierra-leone\/all-news\/elon-musk-countersues-twitter-alleging-fraud-by-social-media-company","title":{"rendered":"Elon Musk Countersues Twitter Alleging Fraud by Social Media Company"},"content":{"rendered":"

Africa-Press – Sierra-Leone. <\/strong><\/span>Elon Musk launched a countersuit against Twitter alleging the company committed fraud and breach of contract in the course of the now-jeopardized $44 billion acquisition deal by the billionaire entrepreneur, according to court filings released on Friday.<\/p>\n

Twitter initially launched a lawsuit against Musk for attempting to pull out of the purchase agreement, claiming he was legally obligated to follow through with the deal. However, Musk continues to seek to cancel the acquisition after expressing concerns regarding the number of fake accounts on the social media platform.<\/p>\n

\u201cIn its disclosures, Twitter claims to have nearly 238 million monetizable daily active users (mDAU) who participate on the platform, and tells its investors that this user base metric is a bellwether for its ability to generate revenue,\u201d the court filings said. \u201cAfter signing the Merger Agreement, however, the Musk Parties learned troubling facts that have called into serious doubt Twitter\u2019s representations.\u201d<\/p>\n

The countersuit alleges that Twitter misrepresented the number of fake accounts included in the mDAU figures, which Musk\u2019s team alleges to be at least twice the 5% level claimed by Twitter. The countersuit also alleges that Twitter\u2019s mDAU figures are roughly 65 million users lower than reported.<\/p>\n

The countersuit accuses Twitter of one count of fraud, one count of violating the Texas Securities Act and two counts of breach of contract. Musk also seeks a declaratory judgment that the merger agreement be terminated due to the alleged circumstances, according to the filing.<\/p>\n

Musk initially agreed in April to purchase Twitter for approximately $44 billion before raising concerns about the company\u2019s practices. The trial for Twitter\u2019s lawsuit against Musk over the attempted cancellation of the deal is set to begin in October.<\/p>\n

For More News And Analysis About Sierra-Leone<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Sierra-Leone. Elon Musk launched a countersuit against Twitter alleging the company committed fraud and breach of contract in the course of the now-jeopardized $44 billion acquisition deal by the billionaire entrepreneur, according to court filings released on Friday. Twitter initially launched a lawsuit against Musk for attempting to pull out of the purchase […]<\/p>\n","protected":false},"author":84,"featured_media":8257,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,8,9],"tags":[291,293,292],"class_list":["post-8258","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-homepage-english","category-miscellaneous","tag-africa-press","tag-africa-press-sierra-leone","tag-sierra-leone"],"yoast_head":"\nElon Musk Countersues Twitter Alleging Fraud by Social Media Company - Sierra Leone<\/title>\n<meta name=\"description\" content=\"Elon Musk launched a countersuit against Twitter alleging the company committed fraud and breach of contract in the cour ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/sierra-leone\/all-news\/elon-musk-countersues-twitter-alleging-fraud-by-social-media-company\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Elon Musk Countersues Twitter Alleging Fraud by Social Media Company\" \/>\n<meta property=\"og:description\" content=\"Elon Musk launched a countersuit against Twitter alleging the company committed fraud and breach of contract in the cour ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/sierra-leone\/all-news\/elon-musk-countersues-twitter-alleging-fraud-by-social-media-company\" \/>\n<meta property=\"og:site_name\" content=\"Sierra Leone\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2022-08-06T13:38:01+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-08-06T13:48:34+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/sierra-leone\/sites\/16\/2022\/08\/postQueueImg_3-62ee711df2e5d.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1280\" \/>\n\t<meta property=\"og:image:height\" content=\"720\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/sierra-leone\/all-news\/elon-musk-countersues-twitter-alleging-fraud-by-social-media-company#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/sierra-leone\/all-news\/elon-musk-countersues-twitter-alleging-fraud-by-social-media-company\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/sierra-leone\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Elon Musk Countersues Twitter Alleging Fraud by Social Media Company\",\"datePublished\":\"2022-08-06T13:38:01+00:00\",\"dateModified\":\"2022-08-06T13:48:34+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/sierra-leone\/all-news\/elon-musk-countersues-twitter-alleging-fraud-by-social-media-company\"},\"wordCount\":302,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/sierra-leone\/all-news\/elon-musk-countersues-twitter-alleging-fraud-by-social-media-company#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/sierra-leone\/sites\/16\/2022\/08\/postQueueImg_3-62ee711df2e5d.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-Sierra-Leone\",\"Sierra-Leone\"],\"articleSection\":[\"all news\",\"homepage-english\",\"miscellaneous\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/sierra-leone\/all-news\/elon-musk-countersues-twitter-alleging-fraud-by-social-media-company#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/sierra-leone\/all-news\/elon-musk-countersues-twitter-alleging-fraud-by-social-media-company\",\"url\":\"https:\/\/www.africa-press.net\/sierra-leone\/all-news\/elon-musk-countersues-twitter-alleging-fraud-by-social-media-company\",\"name\":\"Elon Musk Countersues Twitter Alleging Fraud by Social Media Company - 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