A Delaware judge set an October trial date for Twitter’s lawsuit against Elon Musk, siding largely with the social media site as it seeks to force the mogul to go through with his $44 billion…
A Delaware judge set an October trial date for Twitter’s lawsuit against Elon Musk, siding largely with the social media site as it seeks to force the mogul to go through with his $44 billion deal to buy the site.Delaware Court of Chancery Chancellor Kathaleen McCormick said during a Thursday hearing.
“The longer the merger transaction remains in limbo, the larger the cloud of uncertainty cast over the company,” McCormick said, speaking with a hoarse voice through Zoom after testing positive for COVID-19., with attorney William Savitt arguing in court on Tuesday that the ongoing uncertainty around the deal harms the site “every hour, every day.”
“Mr. Musk has been and remains contractually obligated to use his best efforts to close this deal,” Savitt said. “What he is doing is the exact opposite of best efforts. It is sabotage.”Anadolu Agency via Getty ImagesMusk’s attorneys, meanwhile, argued that the trial should kick off no earlier than February 2023 so they could have more time to“What you’re talking about is a company that has a massive amount of data that has to be analyzed,” Musk’s lawyer Andrew Rossman said.
Twitter’s lawyers accused the mogul of inventing the bots issue as an excuse to get out of the deal and trying to use a 2023 trial date as a “tactical delay.” The company wants Delaware to force Musk to complete his acquisition of the site at $54.20 per share. The company
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