At last report, Elon Musk tried to break the agreement to acquire Twitter for the modest sum of 44 billion dollars. This earned him a complaint from the social platform to force him to fulfill the terms of the contract. Twitter lawyers accuse Musk of a long list of breaches of their agreements. They maintain that the businessman put on quite a show to buy the company and now believes himself above the laws of contract.
Twitter has asked a Delaware court judge to have its case heard by October 24, which is the deadline for the merger agreement with Musk to expire. Precisely, we have a schedule for the trial and it will take place from October 17 to October 21.
The trial will last five days in accordance with Twitter’s request
The date of Twitter’s lawsuit against Elon Musk was one more point of disagreement between the two parties. Indeed, the billionaire’s team proposed a date in 2023 while Twitter’s lawyers imperatively wanted a trial for September. For the social network, the sooner the better because the company has already paid a heavy price during the second quarter of 2022. Its results were significantly lower than those of 2021 because of the fuss that Musk created about its acquisition.
Kathaleen McCormick, president of the Delaware court and specialist in business law, decided that the trial would take place in October and would last five days. She also made it clear in a document that was released Thursday that the two sides must cooperate “in good faith” to agree on how to share documents or arrange for depositions.
Why Elon Musk no longer wants to buy Twitter?
In April, Elon Musk announced his intention to buy the social platform but ended up turning back in early July. According to the CEO of Tesla, Twitter lied about the proportion of automated and spam accounts on its platform.
Besides, Twitter wants the deal to go through. It therefore convened a general meeting of its shareholders on September 13 in order to ratify the operation. Thus, we will soon know who will win in this trial.