According to sources, in the coming days Elon Musk will counter sue Twitter over its assertion of the number of bot accounts, in an attempt to get the upper hand over the tech titan as he tries to back out of their purchase agreement. In part, Musk’s lawyers hope the new suit will buy his team more time to investigate the bot issue at the social media company, with hopes they will be able to prove decisively that the number of bots far exceeds Twitters assertions of only 5% of active daily users.
It is also believed Musk hopes the threat of multiple protracted legal battles, which could drag down Twitter’s stock, and potentially reveal that the site has far fewer monetizable users than advertised, could give Musk more leverage in their battle over the terms of their contract.
News of Musk’s lawsuit comes less than a week after Twitter filed its own suit, accusing Musk of seeking to, “trash the company, disrupt its operations, destroy stockholder value, and walk away.”
Twitter is seeking to have the Court enforce the purchase agreement and force Musk to purchase the company at the agreed upon price of 54.20 per share.
University Of Iowa law corporate and finance law professor Robert T. Miller said Musk filing a countersuit makes sense, as, “if he doesn’t do that, he’s surrendering.” He added, that, “If he comes up with a completely new issue that has not been raised, it could change things.”