Twitter has dismissed Elon Musk's claim that he was hoodwinked into signing the $44B deal to buy the social media company, saying that it was "implausible and contrary to fact".
Elon Musk said that if Twitter could provide its method of sampling 100 accounts and how it confirmed that the accounts are real, his $44 billion deal to buy the company should proceed on its original terms.
"However, if it turns out that their SEC filings are materially false, then it should not," Musk tweeted early on Saturday.
In response to a Twitter user asking whether the US SEC was probing "dubious claims" by the company, Musk tweeted "Good question, why aren't they?".
Good summary of the problem.— Elon Musk (@elonmusk) August 6, 2022
If Twitter simply provides their method of sampling 100 accounts and how they’re confirmed to be real, the deal should proceed on original terms.
However, if it turns out that their SEC filings are materially false, then it should not.
Twitter declined to comment on the tweet when contacted by Reuters.
Twitter on Thursday dismissed Musk's claim that he was hoodwinked into signing the deal to buy the social media company, saying that it was "implausible and contrary to fact".
"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 on Thursday.
Musk filed a countersuit against Twitter on July 29, escalating his legal fight against the social media company over his bid to walk away from the $44 billion purchase.
🧵@elonmusk's counterclaim suit against Twitter.— Andrea Stroppa (@Andst7) August 5, 2022
Clearly, from Twitter SEC filings, mDAU is the key metric. It is the key metric for its business rev. And its market value;
mDAU is an ad hoc metric, created to protect Twitter's interests. No competitor uses something similar.