Twitter deal could go ahead if proof of real accounts provided, says Elon Musk

Edited By: Sayan Ghosh
New Delhi Updated: Aug 06, 2022, 04:39 PM(IST)

In this file photo, Elon Musk, founder of SpaceX, speaks during the Satellite 2020 at the Washington Convention Center in Washington, DC Photograph:( AFP )

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The legal battle between Musk and Twitter has been waging on for some time with Twitter suing him for not paying the $1 billion fine agreed by both parties in case the deal did not go through.

Elon Musk has said that the proposed takeover of Twitter for $44 billion can still go forward if the company could convince him of the authenticity of its users. The company claimed that only five per cent of its total users are fake and they used the method of sampling 100 accounts at a time to reach the conclusion. However, Musk maintained that the number is actually somewhere around 20 per cent and that was cited as the main reason why the deal did not go forward after the initial deal.

"However, if it turns out that their SEC filings are materially false, then it should not," Musk tweeted.

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On Twitter, a user asked Musk about the SEC possibly investigating the company for “dubious claims” and in response, the billionaire responded - "Good question, why aren't they?".

The legal battle between Musk and Twitter has been waging on for some time with Twitter suing him for not paying the $1 billion fine agreed by both parties in case the deal did not go through.

In response, Musk and his team went on to file a countersuit against Twitter. Chancellor Kathaleen McCormick of the Delaware court of chancery decided to set the date of legal case on October 17.

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In their latest filing, Twitter dismissed all the allegations that they misled Musk into signing the deal.

"According to Musk, he — the billionaire founder of multiple companies, advised by Wall Street bankers and lawyers — was hoodwinked by Twitter into signing a $44 billion merger agreement. That story is as implausible and contrary to fact as it sounds," the filing released by Twitter said.

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(With inputs from agencies)

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