Here's the deal ... Elon and his new social media company have been in the crosshairs of controversy over the past few days -- and it mostly has to do with a story Media Matters published that suggested pro-Nazi ads were running alongside organic content from users.

Of course, that sounds scandalous ... and it dovetails with accusations of antisemitism that Elon himself faced this exact same week -- this after a Twitter response he fired off.

The Media Matters thing, though, is what EM is now squarely focused on in this epic warning. He took to X Friday night to announce he was hitting the courthouse first thing Monday morning in a plan to sue Media Matters over what he claims is misleading reporting.

Elon says, "The split second court opens on Monday, X Corp will be filing a thermonuclear lawsuit against Media Matters and ALL those who colluded in this fraudulent attack on our company." He added, "Their board, their donors, their network of dark money, all of them."

There was also an attached explanation to Media Matters' report -- which, again, suggested Nazi propaganda was somehow popping up on X ... and which seems to have spurred HUGE companies to either pause or outright suspend X advertising over the last 24 hours.

Those brands include Apple, Disney, WB, IBM, Lionsgate and others ... and that, of course, hurts Elon and X's bottom line. So, he's trying to rectify it all now with what he says is forthcoming legal action.

It's been a bumpy week for the guy ... but hey, at least his SpaceX Starship rocket got successfully launched today. That is, before it self-destructed after about 10 minutes or so.