Twitter gets an Oct. hearing against Elon Musk
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2 years ago 06:00:40am Television

Twitter gets an Oct. hearing against Elon Musk

New Delhi, 12-April-2023, By IBW Team

Musk

Twitter Inc. will get an October trial in its legal fight to hold Elon Musk to his $44 billion takeover, after a Delaware judge said on Tuesday the social media company deserved a quick resolution of the deal’s uncertainty.

The ruling is a blow to Musk, who pushed for a trial in February to allow for an extensive investigation into his claims that Twitter has misrepresented the number of fake or spam accounts.

The question of whether Twitter’s user numbers are inflated is core to his contention that he can walk away from the deal. The company, which had requested a September trial, says the issue is a distraction and deal terms require Musk to pay up.

Twitter had argued that delaying the trial into the next year could threaten deal financing.

Chancellor Kathaleen McCormick of the Court of Chancery in Delaware said on Tuesday that the company deserved a swift decision on its claims.

“The reality is delay threatens irreparable harm to the sellers,” she said, referring to Twitter.

McCormick asked the parties to work out the schedule for the trial, which she said would last five days.

An attorney for Musk, who is also the chief executive of electric car maker Tesla Inc (TSLA.O), did not respond to a request for comment.

“We are pleased that the court agreed to expedite this trial,” a Twitter spokesperson said.


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