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Musk targets ad tech firms in Twitter suit over takeover deal

By Sheila Dang (Reuters) - Billionaire entrepreneur Elon Musk, who is attempting to walk away from his deal to acquire Twitter Inc (NYSE:TWTR), is seeking documents from...
Musk targets ad tech firms in Twitter suit over takeover deal © Reuters. FILE PHOTO: Elon Musk photo, Twitter logos and U.S. dollar banknotes are seen in this illustration, August 10, 2022. REUTERS/Dado Ruvic/Illustration

By Sheila Dang

(Reuters) - Billionaire entrepreneur Elon Musk, who is attempting to walk away from his deal to acquire Twitter Inc (NYSE:TWTR), is seeking documents from advertising technology firms as part of his quest to gain more information on bot and spam accounts on Twitter, according to filings in a Delaware court on Thursday.

Twitter has sued the Tesla (NASDAQ:TSLA) chief executive, who has accused Twitter of hiding information about how it calculates the percentage of bots on the service, for attempting to walk away from the $44 billion agreement. The trial is scheduled for Oct. 17.

Musk's lawyers have subpoenaed both Integral Ad Science (IAS) and DoubleVerify for any documents or communications on their involvement to review accounts or participate in any audit process of Twitter's user base.

IAS and DoubleVerify, which are both based in New York, use technology to independently verify that digital ads are viewed by real people. Advertisers use the services to ensure the ads they pay for are seen by potential customers and not automated bots.

Twitter, IAS and DoubleVerify did not immediately respond to requests for comment.

In a countersuit earlier this month, Musk claimed that Twitter's monetizable daily active users are 65 million lower than what the company has touted. Twitter has said it stands by its disclosures.

The metric measures users who log onto Twitter through the website or apps that are able to serve ads or used paid products like subscriptions, according to Twitter filings.

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01-05-2024 10:45:17 (UTC+7)

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AUD/USD

0.6469

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USD/CAD

1.3780

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EUR/JPY

168.32

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0.9808

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Adidas AG

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Deutsche Lufthansa AG

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Siemens AG Class N

175.90

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    EUR/USD 1.0658 ↑ Sell  
    GBP/USD 1.2475 ↑ Sell  
    USD/JPY 157.91 ↑ Buy  
    AUD/USD 0.6469 Neutral  
    USD/CAD 1.3780 ↑ Buy  
    EUR/JPY 168.32 ↑ Buy  
    EUR/CHF 0.9808 Neutral  
    Gold 2,295.80 ↑ Sell  
    Silver 26.677 ↑ Sell  
    Copper 4.5305 ↑ Buy  
    Crude Oil WTI 81.14 ↑ Sell  
    Brent Oil 85.62 ↑ Sell  
    Natural Gas 1.946 ↑ Sell  
    US Coffee C 213.73 ↑ Sell  
    Euro Stoxx 50 4,920.55 ↑ Sell  
    S&P 500 5,035.69 ↑ Sell  
    DAX 17,921.95 ↑ Sell  
    FTSE 100 8,144.13 Sell  
    Hang Seng 17,763.03 ↑ Sell  
    Small Cap 2000 1,973.05 ↑ Sell  
    IBEX 35 10,854.40 Neutral  
    BASF 49.155 ↑ Sell  
    Bayer 27.35 ↑ Sell  
    Allianz 266.60 ↑ Sell  
    Adidas 226.40 ↑ Sell  
    Lufthansa 6.714 Neutral  
    Siemens AG 175.90 ↑ Sell  
    Deutsche Bank AG 15.010 Neutral  
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SJC Eximbank8,300/ 8,500
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SJC 99,99%7,370/ 7,470
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