Shares of Twitter plummeted on Monday afternoon on the prospect of a prolonged legal fight between the social media company and billionaire Elon Musk, who says he's pulling out of a buyout deal, leaving Twitter's future in doubt.
on Friday, Musk claimed that Twitter refused to provide enough information about the number of fake accounts it has and that Musk's advisors determined the true incidence of bots on the platform is"wildly higher" than Twitter claims.
Musk will have to demonstrate either that Twitter deliberately lied about how many bots it had or that executives suspected they had a bot issue but chose to ignore it, said Shapiro, who predicted that it will be an exceedingly difficult bar to meet. However, if Musk successfully makes that case — a big if — he could conceivably persuade a judge to let him walk out of the deal.
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