Twitter spent $33 million on expenses related toElon Musk 's proposed takeover in Q2 this year.- Those costs are set to balloon with Twitter facing off against Musk in court.
Twitter's fight with Elon Musk is already costing the social media giant dearly.
$4 in April, but announced on July 8 he wants to $4.
Twitter said in its Q2 earnings report Friday it has already incurred $33 million in costs related to its "pending acquisition" by Musk.
Twitter also partially blamed a 1% drop in revenue on "uncertainty" caused by Musk's turbulent acquisition.
Twitter's costs will continue to rise as it is headed for a
Musk's contention is that Twitter gave him a false impression about the $4. In its regulatory filings Twitter says roughly 5% of accounts are fake, but Musk's lawyers said the Tesla billionaires' analysis shows the figure is "wildly higher than 5%."
Twitter's lawyers said Musk's professed concern over fake accounts is a smoke screen and he $4.
$4 in its
Even if the initial judgement were to come quickly in Twitter's favor Musk could appeal the decision and make the case last up to three years Harry Kraemer, professor of management and strategy at Northwestern University's Kellogg School of Management, told $4.
"The big, big winners in this one are gonna be the law firms," Kraemer said, adding: "These guys are gonna make a fortune."