Court announces date for Twitter vs. ElonMusk trial
The two parties are scheduled to meet in the Delaware Court of Chancery from Oct. 17 to Oct. 21, according to court documents released Friday. There, the two will have an expedited trial focused on whether the billionaire's termination of his agreement to acquire Twitter was justifiable.A judge ruled in favor of the expedited trial on July 19.
Musk terminated his agreement to acquire Twitter on July 8, alleging that Twitter had been deceptive about its number of spam bots. Twitter promptly responded by filing a lawsuit against Musk on July 12, hoping to force him to uphold the agreement. The two parties are scheduled to appear in October in the Delaware Court of Chancery.
If Twitter wins its court case against Musk, he will be forced to purchase its stock at $54.20 a share and turn the company private. If Musk succeeds, he will be released from his contractual obligations and will have to pay a $1 billion termination fee, as established in the agreement. A settlement is possible between the two parties but would require additional negotiations.
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