X's lawsuit against a group of advertisers claims a boycott has cost the social media company billions in revenue.
Elon Musk's social media platform, X, formerly Twitter, filed a lawsuit on Tuesday against a group of advertisers that accuses them of orchestrating an advertiser boycott and costing the company billions in revenue.The lawsuit was filed in federal court in Texas against the World Federation of Advertisers and major corporations like Unilever, Mars, CVS Health, and Orsted.
In November 2023, concerns about ads appearing next to pro-Nazi content and hate speech led to a wave of advertisers abandoning X. In addition, Musk's controversial endorsement of an antisemitic conspiracy theory further fueled the issue, the AP reported.According to the AP, Musk later criticized these advertisers, accusing them of 'blackmail' and using profane language to dismiss them.Meanwhile, Musk wrote about his new lawsuit in a series of posts on X.
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