A tech legal battle of the ages is in the works after Twitter formally fired its first litigious shots against Elon Musk this week.
According to the Washington Examiner, after announcing he was backing out of the $44 billion Twitter acquisition deal he struck earlier this year with the social media platform, Musk will now be forced to defend his exit in the court of law as Twitter has filed suit to compel him to go through with the deal.
The lawsuit was filed Tuesday in the Delaware Court of Chancery.
The two sides are at odds over the true number of bots being used on the platform.
Twitter’s legal team clearly feels it has a case to be made against the Tesla billionaire.
“In April 2022, Elon Musk entered into a binding merger agreement with Twitter, promising to use his best efforts to get the deal done,” the lawsuit read.
It added: “Now, less than three months later, Musk refuses to honor his obligations to Twitter and its stockholders because the deal he signed no longer serves his personal interests.”
Of course, that’s a radically different take on the situation than what Musk — and others — have raised concerns about.
In its paperwork filing with the Securities and Exchange Commission (SEC), Twitter said the platform is comprised of roughly 5% bot accounts. Musk, and a number of third-party analysts, believe the true number is more like 15% — 20%, with some estimates going even higher.
More bots mean less revenue, as bot accounts can’t be monetized.
Musk isn’t worried
Clearly, Musk doesn’t seem to be worried, whatsoever, about the lawsuit, with many even suggesting he planned it to happen this way in order to force Twitter to reveal its true bot count during the discovery phase of the lawsuit.
The tech genius billionaire made light of the situation in several recent tweets.