Elon Musk Accuses Twitter of Fraud: Countersuit

Contact Your Elected Officials
The Epoch Times Header

Elon Musk in a countersuit has accused Twitter executives of fraudulently presenting an undercount of fake users, known as bots.

Twitter in July sued Musk for withdrawing from a $44 billion acquisition agreement, alleging he breached the agreement.

In the counter-filing, entered under seal last month and obtained by The Epoch Times on Aug. 5, Musk says he relied on statements from Twitter to the U.S. Securities and Exchange Commission about key components of the company, such as the percentage of fake and spam accounts and moderation practices.

But once Musk entered the agreement, he found that the technology company refused to provide access to the company’s books and records to verify the information.

“The more Twitter evaded even simple inquiries, the more the Musk Parties grew to suspect that Twitter had misled them,” the countersuit says.

One key statistic: 238 million monetizable daily active users (users who actually see ads on the platform and thus would be considered monetizable). But that number is an overcount because there are more false and spam accounts on the platform than Twitter says, according to the filing.

There are just 173 million monetizable users and most ads are shown to less than 16 million, it says.

Twitter has said under 5 percent of its users are bots.

Musk, in a meeting in May, attempted to understand how Twitter reached that percentage. He “was astonished to learn just how meager Twitter’s processes were,” the countersuit says. Musk learned that human reviewers look at a sample of just 100 accounts, and that Twitter executives weren’t able to say how the accounts in the sample were selected.

“Unlike other platforms, Twitter did not send email, text, or other push notifications to users to verify them. Musk realized that, at best, Twitter’s reliance on and touting of its process was reckless; at worst, it was intentionally misleading,” the filing states. “Since then, Twitter’s disclosures have slowly unraveled, with Twitter frantically closing the gates on information in a desperate bid to prevent the Musk Parties from uncovering its fraud.”

By Zachary Stieber and Naveen Athrappully

Read Full Article on TheEpochTimes.com

The Epoch Times
The Epoch Timeshttps://www.theepochtimes.com/
Tired of biased news? The Epoch Times is truthful, factual news that other media outlets don't report. No spin. No agenda. Just honest journalism like it used to be.

Trump’s Middle East Triumph is Worth Celebrating Even As Peace Remains Elusive 

President Trump’s bold foreign policy defies globalist appeasement, showcasing unwavering American strength and decisive leadership on the world stage.

Are conservatives fighting a fiction of woke?

Wokery, it hurts to say it, is too disorganized to have an organized cosmology or doctrine of metaphysical belief.

Illinois Democrat Offenders Reveal Party

The crime of J.B Pritzker and Brandon Johnson in this episode of American history is called subversion at the least , but could be as serious as treason.

Inside the Public School Librarian Jihad to Keep Transgender Propaganda on Shelves

Public school librarians are doing all they can to keep child tranny propaganda flowing directly into the malleable minds of their charges.

Five Reasons Why The Latest Czech Elections Were So Important

Populist-nationalist politician Andrej Babis is poised to return to the premiership after his party's victory. Here are 5 reasons why this is so important.

There Are No Survivors in the Blast at a Tennessee Explosives Factory, Sheriff Says

The blast in rural Tennessee that leveled an explosives plant and was felt for miles around left no survivors, authorities said Saturday

Antifa Is Threatening Families of Law Enforcement: Homeland Security

Family members of law enforcement officers are facing threats from individuals affiliated with the far-left extremist group Antifa, the DHS said in an Oct. 10 X post.

Pentagon Creating New Counter-Narcotics Joint Task Force in Southern Command, Hegseth Says

Sec of War Pete Hegseth said President Trump has directed the creation of a new counter-narcotics joint task force in SOUTHCOM area of responsibility.

Key Takeaways From Virginia Gubernatorial Election Debate

Spanberger and Earle-Sears had significant exchanges on the govt shutdown, transgender issues, and abortion during Gubernatorial debate.

Trump Says He May Invoke Insurrection Act in Portland If Necessary

President Donald Trump on Oct. 6 said he may consider invoking the Insurrection Act in Portland, Oregon, if necessary.

Trump: All Medium, Heavy Duty Trucks Entering US Will See 25 Percent Tariff on Nov. 1

President Trump announced on Monday that all medium and heavy-duty trucks entering the United States will see a 25 percent tariff starting on Nov. 1.

Treasury Names Social Security Commissioner as CEO of IRS

Treasury Sec. Scott Bessent announced that Frank Bisignano, the head of the Social Security Administration (SSA), will also serve as CEO of the IRS.

Agencies Terminated, Descoped 94 Wasteful Contracts With $8.5 Billion Ceiling Value, Says DOGE

Various federal government agencies have terminated and descoped 94 wasteful contracts over the past five days, DOGE said in an Oct. 4 post on X.
spot_img

Related Articles

Popular Categories

MAGA Business Central