Musk accuses Twitter of fraud for hiding bogus accounts, According to The New York Times, Elon Musk has accused Twitter of engaging in fraudulent activity by concealing the actual number of bots that use the network.
In the most recent chapter of the ongoing feud between Musk and Twitter, Musk’s legal team asserted in a court filing that 10% of the social network’s daily active users who see advertisements are actually fake accounts. This was the latest development in the ongoing battle between Musk and Twitter.
To refresh your memory, Twitter has long asserted that bots make up less than five percent of its userbase. In the middle of July, Elon Musk put his proposal to acquire the social network on hold in order to investigate whether or not this assertion is accurate.
After becoming the company’s largest shareholder in April, the CEO of Tesla and SpaceX, who is also an active user of Twitter, began an aggressive takeover of the social network in an effort to consolidate his control over it. Twitter quickly accepted his offer, but shortly after that, the two of them butted heads over the number of fake accounts that are on the platform. He also accused the company of not giving him access to enough information to verify the number of bots that are on the website.
Despite the fact that Twitter quickly accepted his offer, they butted heads over the number of fake accounts that are on the platform. In return, Twitter granted him complete access to all of its internal data; nevertheless, in the end, Musk informed the Securities and Exchange Commission that he desired to cancel the transaction due to “false and misleading promises” made by the social network.
Twitter filed a lawsuit against its largest shareholder, Elon Musk, alleging that Musk is in violation of their agreement by attempting to back out of the $44 billion purchase deal. Twitter told the court that Musk is acting unlawfully. The website accused him of dropping out because the arrangement he signed “no longer suits his personal interests” as a result of the decline in the share prices of both Tesla and Twitter brought on by the economic slump.
In this new filing, Musk’s side claimed that its analysts discovered a significantly higher number of fake accounts using Botometer than what Twitter claimed to have been the case. This is an algorithm for machine learning that was developed at Indiana University.
It “checks the behavior of Twitter accounts and assigns them a score based on how likely it is that they are bots.” The legal representation for Musk claims that the social network hid its bot problem in an effort to convince Musk to agree to buy the company “at an overvalued price.” Additionally, they stated:
“As part of its plan to mislead investors about the company’s future prospects, Twitter was engaged in a conspiracy to miscount the number of fake and spam accounts that were present on its network. Twitter is hurriedly closing the gates on information in a desperate attempt to prevent the Musk parties from finding its deception. As Twitter’s disclosures have steadily unraveled, Twitter has been frantically closing the gates on the information.”
Twitter responded with its own court brief, in which it referred to his assertions as “commercially irrelevant, legally deficient, and factually wrong.” The business stated that the Botometer is unreliable and admitted that it had previously rated Elon Musk’s personal Twitter account as having a score indicating that it is “very likely to be a bot.” The case that Twitter has filed against Musk is scheduled to go to trial in October.