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NFLX   241.84 (+0.29%)
S&P 500   4,271.99 (-0.05%)
DOW   33,928.89 (-0.15%)
QQQ   328.44 (-0.02%)
AAPL   173.50 (-0.60%)
MSFT   290.50 (-0.28%)
META   174.30 (-0.31%)
GOOGL   119.34 (-0.18%)
AMZN   141.50 (-0.42%)
TSLA   916.63 (+0.51%)
NVDA   182.36 (-0.54%)
NIO   20.07 (-0.05%)
BABA   90.26 (+0.55%)
AMD   97.75 (-0.53%)
MU   61.82 (+0.32%)
T   18.33 (-0.49%)
CGC   3.98 (-1.97%)
F   16.01 (-0.12%)
DIS   123.33 (+0.42%)
AMC   21.50 (+0.66%)
PYPL   98.90 (-0.52%)
PFE   49.39 (+0.24%)
NFLX   241.84 (+0.29%)
S&P 500   4,271.99 (-0.05%)
DOW   33,928.89 (-0.15%)
QQQ   328.44 (-0.02%)
AAPL   173.50 (-0.60%)
MSFT   290.50 (-0.28%)
META   174.30 (-0.31%)
GOOGL   119.34 (-0.18%)
AMZN   141.50 (-0.42%)
TSLA   916.63 (+0.51%)
NVDA   182.36 (-0.54%)
NIO   20.07 (-0.05%)
BABA   90.26 (+0.55%)
AMD   97.75 (-0.53%)
MU   61.82 (+0.32%)
T   18.33 (-0.49%)
CGC   3.98 (-1.97%)
F   16.01 (-0.12%)
DIS   123.33 (+0.42%)
AMC   21.50 (+0.66%)
PYPL   98.90 (-0.52%)
PFE   49.39 (+0.24%)
NFLX   241.84 (+0.29%)
S&P 500   4,271.99 (-0.05%)
DOW   33,928.89 (-0.15%)
QQQ   328.44 (-0.02%)
AAPL   173.50 (-0.60%)
MSFT   290.50 (-0.28%)
META   174.30 (-0.31%)
GOOGL   119.34 (-0.18%)
AMZN   141.50 (-0.42%)
TSLA   916.63 (+0.51%)
NVDA   182.36 (-0.54%)
NIO   20.07 (-0.05%)
BABA   90.26 (+0.55%)
AMD   97.75 (-0.53%)
MU   61.82 (+0.32%)
T   18.33 (-0.49%)
CGC   3.98 (-1.97%)
F   16.01 (-0.12%)
DIS   123.33 (+0.42%)
AMC   21.50 (+0.66%)
PYPL   98.90 (-0.52%)
PFE   49.39 (+0.24%)
NFLX   241.84 (+0.29%)

Musk countersuit accuses Twitter of fraud over 'bot' count


The Twitter splash page is displayed on a digital device in San Diego, April 25, 2022. Twitter has filed a response to claims by billionaire Elon Musk that he has legitimate reasons for wanting to back out of his $44 billion deal to buy the social media company. In a counterclaim filed Thursday, Aug. 4, 2022, Twitter calls Musk's reasoning “a story, imagined in an effort to escape a merger agreement that Musk no longer found attractive once the stock market—and along with it, his massive personal wealth—declined in value.” (AP Photo/Gregory Bull, File)

Elon Musk accused Twitter of fraud in a countersuit over his aborted $44 billion deal for the social media company, which he claimed held back necessary information and misled his team about the true size of its user base.

The countersuit by the billionaire and Tesla CEO alleges that Twitter committed fraud, breach of contract and violation of a securities law in Texas, where Musk lives.

Musk's counterclaims were filed confidentially last week and unsealed in a filing late Thursday at the Delaware Chancery Court.

Musk offered to buy Twitter earlier this year, then tried to back out of the deal by claiming the social platform was infested with a larger numbers of “spam bots” and fake accounts than Twitter had disclosed.

Twitter sued to force him to complete the acquisition. Musk responded by filing his countersuit.

Musk's attorneys argue in the countersuit that Twitter “misrepresentations or omissions” distorted the company’s value and caused Musk to agree in April to buy it at an inflated price. They said Twitter’s own disclosures revealed that it has 65 million fewer “monetizable daily active users,” who can be shown digital ads, than the 238 million that Twitter claims.

The filing also said most of Twitter's ads are shown only to a sliver of the company's user base.

Musk's team also accused Twitter of making too many major changes in recent months without consulting Musk, including personnel decisions and allegedly disobeying social media restrictions imposed by the government of India, which is Twitter's third largest market. Musk had pledged to make Twitter a haven for free speech but has also said it must comply with the local laws where it operates.

In an unexpected twist, Twitter filed its response denying Musk's accusations before Musk’s own counterclaims surfaced.


Twitter called Musk’s reasoning “a story, imagined in an effort to escape a merger agreement that Musk no longer found attractive.” The company, in particular, took issue with Musk's estimate of fake accounts, saying the analysis relied on a “generic web tool" that designated Musk's own Twitter account as a likely bot.

“The result is a distortion that Musk is hoping will nonetheless make waves,” Twitter's response said.

The case is scheduled to go to trial on October 17. The Delaware court handles many high-profile disputes between businesses, such as Twitter, that are incorporated there.

7 Commodities ETFs to Help Build a Hedge Against Inflation

Commodities are a broad category that covers agricultural products like wheat, corn, and soybeans. It also includes oil and derivative products such as gasoline, natural gas, and diesel fuel.

However, investing in commodities also covers precious metals such as gold and silver as well as base metals like copper and aluminum. And more recently, this sector includes items like lithium that will be needed in many of the emerging sectors of our economy.

Commodities trading is frequently done by trading contracts on the futures market. And it's not for faint-of-heart investors. Prices are volatile and can change quickly due to macroeconomic events.

However, at certain times, particularly in times of high inflation, commodities outperform the broader market. A practical alternative for individual investors looking to profit from commodities is to invest in exchange-traded funds (ETFs). These funds give investors exposure to this sector while reducing the risk that comes from investing in any single commodity.

Here are seven ETFs that you can buy to help build a hedge against inflation.

View the "7 Commodities ETFs to Help Build a Hedge Against Inflation".

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