QQQ   320.74 (-0.31%)
AAPL   164.86 (-0.30%)
MSFT   280.53 (-0.84%)
META   170.47 (+2.01%)
GOOGL   117.41 (-0.05%)
AMZN   139.65 (-0.82%)
TSLA   870.77 (+0.72%)
NVDA   178.10 (-6.21%)
NIO   20.18 (-0.20%)
BABA   90.81 (-1.89%)
AMD   100.01 (-2.25%)
MU   61.45 (-1.62%)
T   18.00 (-1.91%)
CGC   3.28 (+21.48%)
GE   75.19 (+1.12%)
F   15.78 (+3.14%)
DIS   109.09 (+2.31%)
AMC   23.84 (+7.48%)
PYPL   96.27 (+1.00%)
PFE   49.33 (+0.12%)
NFLX   233.20 (+2.83%)
QQQ   320.74 (-0.31%)
AAPL   164.86 (-0.30%)
MSFT   280.53 (-0.84%)
META   170.47 (+2.01%)
GOOGL   117.41 (-0.05%)
AMZN   139.65 (-0.82%)
TSLA   870.77 (+0.72%)
NVDA   178.10 (-6.21%)
NIO   20.18 (-0.20%)
BABA   90.81 (-1.89%)
AMD   100.01 (-2.25%)
MU   61.45 (-1.62%)
T   18.00 (-1.91%)
CGC   3.28 (+21.48%)
GE   75.19 (+1.12%)
F   15.78 (+3.14%)
DIS   109.09 (+2.31%)
AMC   23.84 (+7.48%)
PYPL   96.27 (+1.00%)
PFE   49.33 (+0.12%)
NFLX   233.20 (+2.83%)
QQQ   320.74 (-0.31%)
AAPL   164.86 (-0.30%)
MSFT   280.53 (-0.84%)
META   170.47 (+2.01%)
GOOGL   117.41 (-0.05%)
AMZN   139.65 (-0.82%)
TSLA   870.77 (+0.72%)
NVDA   178.10 (-6.21%)
NIO   20.18 (-0.20%)
BABA   90.81 (-1.89%)
AMD   100.01 (-2.25%)
MU   61.45 (-1.62%)
T   18.00 (-1.91%)
CGC   3.28 (+21.48%)
GE   75.19 (+1.12%)
F   15.78 (+3.14%)
DIS   109.09 (+2.31%)
AMC   23.84 (+7.48%)
PYPL   96.27 (+1.00%)
PFE   49.33 (+0.12%)
NFLX   233.20 (+2.83%)
QQQ   320.74 (-0.31%)
AAPL   164.86 (-0.30%)
MSFT   280.53 (-0.84%)
META   170.47 (+2.01%)
GOOGL   117.41 (-0.05%)
AMZN   139.65 (-0.82%)
TSLA   870.77 (+0.72%)
NVDA   178.10 (-6.21%)
NIO   20.18 (-0.20%)
BABA   90.81 (-1.89%)
AMD   100.01 (-2.25%)
MU   61.45 (-1.62%)
T   18.00 (-1.91%)
CGC   3.28 (+21.48%)
GE   75.19 (+1.12%)
F   15.78 (+3.14%)
DIS   109.09 (+2.31%)
AMC   23.84 (+7.48%)
PYPL   96.27 (+1.00%)
PFE   49.33 (+0.12%)
NFLX   233.20 (+2.83%)

News reports: Musk countersuit accuses Twitter of fraud


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 said held back necessary information and misled his team about its true user base, according to media reports.

According to The Washington Post, the countersuit filed by the billionaire and Tesla CEO filed Thursday alleges that Twitter committed fraud, breach of contract and violation of the Texas Securities Act.

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

Musk had offered to buy the company earlier this year, then tried to back out of the deal by claiming the social platform was infested with much 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 argued that 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 Post and the Journal reported.

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

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 case is scheduled to go to trial on October 17.

7 Dividend Stocks to Buy When Safety is Your Top Priority

Capital preservation is an important objective for every investor. It's famously summed up by Warren Buffett who says his first rule of investing is to not lose money. And his second rule is to remember the first. When a bull market is racing higher, investors tend to get more aggressive. This means buying growth stocks. And in some cases these companies may not yet be generating a profit at all much less paying out a dividend.

Speculative investors would argue that the risk is worth it since, according to S&P Global, approximately two-thirds of the total return for the S&P 500 index in the last 100 years was due to capital appreciation. The other one-third comes from dividends. And when markets make a move downward, investors are seeking to hedge losses wherever they can. That's where dividend stocks come in.

In this special presentation, we're analyzing seven dividend stocks that investors can look for when they're looking for safety from market volatility. These dividends are safe and likely to continue to rise on a yearly basis.

View the "7 Dividend Stocks to Buy When Safety is Your Top Priority".

Free Email Newsletter

Complete the form below to receive the latest headlines and analysts' recommendations for your stocks with our free daily email newsletter:

Most Read This Week

Recent Articles

Search Headlines:

Latest PodcastFind Investing Opportunities For The Rest of 2022

Today, Kate’s guest is Rhys Williams, chief investment officer for the Opportunistic All Cap Equity, a long-short strategy at Spouting Rock Asset Management.

MarketBeat Resources

Premium Research Tools

MarketBeat All Access subscribers can access stock screeners, the Idea Engine, data export tools, research reports, and other premium tools.

Discover All Access

Market Data and Calendars

Looking for new stock ideas? Want to see which stocks are moving? View our full suite of financial calendars and market data tables, all for free.

View Market Data

Investing Education and Resources

Receive a free world-class investing education from MarketBeat. Learn about financial terms, types of investments, trading strategies and more.

Financial Terms
Details Here
MarketBeat - Stock Market News and Research Tools logo

MarketBeat empowers individual investors to make better trading decisions by providing real-time financial data and objective market analysis. Whether you’re looking for analyst ratings, corporate buybacks, dividends, earnings, economic reports, financials, insider trades, IPOs, SEC filings or stock splits, MarketBeat has the objective information you need to analyze any stock. Learn more about MarketBeat.

MarketBeat is accredited by the Better Business Bureau MarketBeat is rated as Great on TrustPilot

© American Consumer News, LLC dba MarketBeat® 2010-2022. All rights reserved.
326 E 8th St #105, Sioux Falls, SD 57103 | contact@marketbeat.com | (844) 978-6257
MarketBeat does not provide personalized financial advice and does not issue recommendations or offers to buy stock or sell any security.

Our Accessibility Statement | Terms of Service | Privacy Policy | Do Not Sell My Information | RSS Feeds

© 2022 Market data provided is at least 10-minutes delayed and hosted by Barchart Solutions. Information is provided 'as-is' and solely for informational purposes, not for trading purposes or advice, and is delayed. To see all exchange delays and terms of use please see Barchart's disclaimer.