Tue Jul 12, 2022 – 3:39 pm EDT
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(LifeSiteNews) — Tech billionaire Elon Musk filed documents with the Securities and Exchange Commission on Friday to inform Twitter he no longer intends to purchase the company.
In the documents, the pro-free speech Tesla founder told Twitter he is canceling his $44 billion offer to buy the social media giant because he says the company misrepresented the number of spam accounts and fake users that exist on the site, artificially inflating the company’s worth.
Musk’s filing admits that he has made this determination without being “provided” the “complete information” that would “enable him to do a complete and comprehensive review of spam and fake accounts on Twitter’s platform,” but he insists that “all indications suggest that several of Twitter’s public disclosures regarding its mDAUs (monetizable daily active users) are either false or materially misleading.”
In effect, Musk alleges that Twitter is not worth the $44 billion he agreed to pay, because there are far fewer users on
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