The legal showdown between Twitter and Elon Musk will finally start on October 17 and will last five days, according to a recently released court schedule.
This is because on July 8, Elon Musk unilaterally terminated the deal to buy Twitter, claiming that the company allegedly lied about the proportion of automated accounts and spam on its platform.
Twitter has decided to sue Musk to force him to complete his acquisition for 44.000 million dollars and has chosen to expedite the trial to take place in September for four days.
Musk said he couldn't move forward until Twitter revealed the true number of fake accounts. of bots on your platform. Twitter insists that its bot stats are legitimate. The head of Tesla and SpaceX tried to officially end the deal without any other form of trial by paying, for example, a $XNUMX billion severance package, but that's not to Twitter's liking.
Twitter's lawyers filed a lawsuit in Delaware against the (currently) richest man in the world, seeking damages and more, and urged the judge to expedite the case and set a September trial date.
But the hearing has now been officially set for Monday, October 17-21. Legal teams representing both sides will need to finalize documents and select expert witnesses in the coming months.
Judge Kathaleen McCormick, Chancellor of the Delaware Court of Chancery, urged both parties to work together in good faith. But days earlier, Musk accused Twitter of trying to push the trial date back a week to Oct. 10 and accused his lawyers of being uncooperative. Twitter, however, denied those allegations, saying Musk's team hadn't been much help either.
"Twitter has repeatedly informed Musk that it has no objection to the trial starting on October 17 if the court has enough availability to complete a five-day trial that week, provided Musk agrees not to seek more than a five-day trial." . reportedly said the company in the court's findings. "Twitter has agreed to start shooting material if Musk does the same," the company continues. “Musk is the party that is preventing productive and disciplined discussions about the scope of the discovery by delaying submitting a response.
Elon Musk is concerned which the judge of the Delaware Court of Chancery handles the lawsuit of Twitter against him. Kathaleen McCormick, chancellor of the court, or president of the court, "has a simple reputation, as well as the distinction of being one of the few jurists who has ever ordered a reluctant buyer to complete an American corporate merger," the American media point out. .
Social media officials want Musk to simply abide by the terms of the deal, which means they must work together to complete the acquisition or he must pay damages for ruining the stock market, shares, and reputation, and pay the $XNUMX billion fine for withdrawing from the deal.
But Musk says he wanted to close the deal quickly, but couldn't after he suddenly realized the spam bot was a big problem on the Twitter site and a major roadblock to future business prospects.
Elon Musk has chosen to fight back against Twitter and in turn files a complaint against Twitter for not having to buy the company. Elon Musk's lawsuit came hours after Chancellor Kathaleen McCormick of the Delaware Court of Chancery allowed a five-day trial beginning Oct. 17 to determine whether Musk can waive the clearance.
“When the market dipped and the fixed price deal became less attractive, Musk changed his tune and suddenly demanded a 'verification' that spam was not a serious problem on the platform. Twitter, and stated that he needed to carry out an 'errand' urgently ». which he had expressly abandoned. Musk's strategy is also a model of bad faith," Twitter said in its original complaint.