Twitter vs Musk, trial date set: October 17. Meanwhile, the owner of Tesla denounces the social network

Elon Musk filed a lawsuit against Twitter, thus responding to the complaint made against him by the social network and intensifying his fight to escape the acquisition agreement signed at the end of April. This new chapter of the story was entirely predictable, as were some of the arguments used by the owner of Tesla and SpaceX to justify the will to blow the deal.

Musk continues to believe that Twitter is not at all transparent about the number of fake bots and accounts. As reported by the Wall Street Journalto support his reasons Musk would have included in the complaint a famous sentence by Warren Buffet: “Only when the tide goes out do you find out who swam naked“. A way of saying that, sooner or later, the truth comes out. For now the documentation of the complaint is confidential, so there is no other information on Musk’s motives.

Many believe that the bot and spam account team is purely instrumental. Twitter’s thesis is that Musk’s is simply a bad faith attempt to evade the agreement, probably after having ascertained that he has taken the longest step of his leg, that is, having valued the social network much more than its actual value. .

Musk’s complaint against Twitter comes close to the decision on process start date announcing for October: will start on October 17th and, as already known, it will last 5 days. The confrontation between the parties will take place in the Delaware Court of Chancery. Meanwhile, Twitter shareholders will have to comment on the initial understanding reached with Musk on September 13.

Twitter, in the past few hours, has reported quarterly figures that are not exactly exciting: the turnover stopped at 1.18 billion dollars, down 1% on last year. The social has scored a loss of 270 million dollars. Conversely, the daily monetizable active users stopped at 237.8 million units, not meeting analysts’ expectations.

The company justified the numbers by speaking of “headwinds” in the advertising industry linked to the difficult macroeconomic context, as well as “uncertainty surrounding Elon Musk’s pending acquisition of Twitter“.