Elon Musk's social media platform X has sued a group of advertisers, alleging that a "massive advertiser boycott" deprived the company of billions of dollars in revenue and violated antitrust laws.

What You Need To Know

  • Elon Musk's social media platform X has sued a group of advertisers, alleging that a "massive advertiser boycott" deprived the company of billions of dollars in revenue and violated antitrust laws

  • The company formerly known as Twitter filed the lawsuit Tuesday in a federal court in Texas against the World Federation of Advertisers and member companies Unilever, Mars, CVS Health and Orsted

  • The suit accuses the advertising group's initiative called the Global Alliance for Responsible Media of helping to coordinate a pause in advertising after Musk bought Twitter for $44 billion in late 2022

The company formerly known as Twitter filed the lawsuit Tuesday in a federal court in Texas against the World Federation of Advertisers and member companies Unilever, Mars, CVS Health and Orsted.

It accused the advertising group's initiative, called the Global Alliance for Responsible Media, of helping to coordinate a pause in advertising after Musk bought Twitter for $44 billion in late 2022 and overhauled its staff and policies.

"We tried peace for 2 years, now it is war," Musk wrote on X, formerly Twitter, sharing an "open letter to advertisers" from the company's CEO, Linda Yaccarino.