Elon Musk Accuses Twitter of Fraud in Countersuit Over $44B Deal
Tesla CEO Elon Musk has accused Twitter of fraud in his countersuit against the social media company. Twitter filed a lawsuit against the billionaire to force him to go through with the $44 billion deal to buy the platform. “The Musk parties bring their counterclaims for breach of contract and rescission on the basis of Twitter’s fraud.”
“Twitter was miscounting the number of false and spam accounts on its platform, as part of its scheme to mislead investors about the company’s prospects by focusing on its purported hundreds of millions of mDAU,” Musk alleged. The social media company defines monetizable daily active users (mDAU) as “users who logged in and accessed Twitter on any given day through Twitter.com or Twitter applications that are able to show ads.” Twitter filed a series of rebuttals to Musk’s countersuit Thursday, accusing the Tesla CEO of cherry-picking numbers.
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