The American Judge Kathleen St. Jude McCormick ordered this Thursday Twitter that provides the lawyers of Elon Musk more data on the company’s estimates that less than 5% of the accounts on its platform are fake, in its dispute over the settlement of $44 billion in which the CEO of Tesla promised to acquire the social network, but later withdrew.
Musk claims that Twitter has not provided enough detail about the number of fake accounts on its platform, arguing that up to 30% of Twitter’s “monetizable daily active users,” or mDAUs, could be spam. or automated accounts. Twitter noted that the mDAU metric helps it measure the number of accounts on its platform that advertisers can target, thus making them “monetizable.”
The Director of Tesla agreed in April to buy Twitter and its privatization, with an offer of $54.20 per share and the promise to relax the surveillance that the company makes on the content that is published and eradicate false accounts.
Musk indicated in July that he wanted out of the deal, prompting Twitter to sue to force him to go through with the acquisition.
The judge rejected the most exhaustive data requests from Musk’s lawyers as “absurdly broad.”noting that a literal reading of the request would require Twitter to submit “billions and trillions of data points” reflecting all records in roughly 200 million accounts over three years.
McCormick did direct Twitter to submit information on 9,000 accounts that were reviewed in connection with the company’s fourth-quarter audit.a subset of data that has been described as a “historical snapshot”.
The Delaware judge also ordered Twitter to hand over documents regarding other metrics, regardless of whether they expressly refer to the mDAU.
Musk’s lawyers have hinted that a comparison of Twitter’s mDAU with other metrics, such as “active user minutes,” could support his theory that the company has fraudulently misled investors. and to securities regulators about the scope of activity on its platform.
Last week the CEO of Tesla, Elon Musksent to the co-founder and former CEO of Twitter, jack dorseya court order for you to provide material to help you get out of the social network purchase agreement for $44 billion.
Documents released during that week show that Dorsey received a legal order urging him to turn over to Musk any communications or documents related to the acquisition deal signed in April.
Dorsey is being asked for documents and communications related to the acquisition, as well as information about the effect of fake or spam accounts on Twitter’s business and its measurement of daily active users.
The little bird’s social network issued subpoenas for several technology investors and entrepreneurs related to Musk, including the prominent investor marc andresen Y david sacksCOO and founder of PayPal.
(With information from EFE)