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Tipsheet

Elon Musk Files Countersuit Against Twitter

Evan Agostini

Tesla CEO Elon Musk filed a countersuit against Twitter, intensifying his legal battle with the social media platform over pulling out of his $44 billion agreement to buy out the company. 

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The 164-page lawsuit was filed under seal just minutes before the 5 p.m. judge imposed deadline. 

According to the New York Post, the contents of the suit were not immediately released to the public, however a redacted version may be available next week. 

“I have reviewed the counterclaims and declare that the matter contained therein insofar as it concerns my acts and deeds is true, and insofar as it relates to the acts and deeds of any other person, I believe it to be true,” an accompanying filing signed by Musk read.

The Wall Street Journal reported that the lawsuit includes a quote from Warren Buffett: “Only when the tide goes out do you discover who’s been swimming naked.” 

The quote is apparently in reference to Musk’s accusation that Twitter has hidden a fake account problem. 

Musk’s lawsuit comes hours after Chancellor Kathaleen St. J. McCormick of a Delaware court ordered a five-day trial beginning October 17 to determine if Musk can walk away from the deal.

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According to NBC, Musk asked the court to keep some details of the suit confidential despite the billionaire being vocal on the social media platform months leading up to it. 

Earlier this year, Musk announced he was buying Twitter for $44 billionaire, however he backed out in July after claiming Twitter of lying about the number of spam and bot accounts on its platform, and denying him access to information about their handling of these accounts.

In return, Twitter sued Musk after he terminated the deal, sending the two to fight it out in court for not holding up his end of the deal. 

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