Elon Musk vs Twitter To Go To Trial in October
A Delaware judge ruled to expedite the trial over Musk’s acquisition of Twitter.
The final showdown in the Elon Musk vs Twitter battle will officially come in October.
A judge ruled that the platform’s lawsuit against Musk for backing out of a $44 billion acquisition deal should end in a five-day trial in October, much to Musk’s discontentment.
This decision came at the end of the first hearing, created to determine whether or not to expedite the case. As soon as Musk moved to terminate the deal, Twitter filed a motion for an expedited four-day trial to take place in September, while Musk and his lawyer, Andrew Rossman, opposed the motion and requested a trail start date sometime next year.
The hearing saw both sides speak, with Twitter’s lawyer William Savitt claiming that Musk is actively sabotaging the platform. “Musk has been and remains contractually obligated to use his best efforts to close this deal,” he said. “What he’s doing is the exact opposite; it’s sabotage.” On the other side, Rossman argued that Musk remains a top shareholder in the company.
Delaware Court of Chancery chancellor Kathaleen St. Jude McCormick ultimately sided with Twitter, saying: “The reality is that delay threatens irreparable harm [to Twitter] … the longer the delay, the greater the risk.”
Musk originally agreed to purchase Twitter for $44 billion in April. Earlier this month, he backed out of the blockbuster deal, citing a lack of transparency and “false and misleading” information from the platform in regards to bot accounts.