[Newsmaker] Elon Musk fires back at Twitter in court battle
Korea HeraldDec 26, 2022
The Facts
Elon Musk countersued Twitter on Fri., escalating the fight to drop his original offer to purchase the company for $44B.
The suit, which remains confidential, could be made public, with Delaware Chancery Court Chief Judge Kathleen St. Jude McCormick saying court rules will force Musk to provide a redacted public copy.
The Spin
Narrative A
Musk is completely in the right on this issue. While Twitter claims its userbase is comprised of only 5% spam accounts, a study reported by Reuters shows its percentage of fake accounts was 9% in 2017, and could be even higher today. Twitter has some explaining to do and Musk shouldn't be forced to purchase anything before the data is revealed.
Narrative B
Musk knew what he was getting into when he signed the merger deal. Twitter has gone to great lengths to comply with all of his requests, and now he thinks he can simply ignore the law, drag the company through the mud, and damage its shareholders simply because he got cold feet. This is simply an excuse to rescind on his end of the deal after a recent slide in tech valuations.
Metaculus Prediction
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