The Delaware Court of Chancery Judge has affixed a date as October 17th for this trial and will come up to a conclusion within just five days. This may seem more favorable to Twitter, as they pushed the court to be as early as possible, while Musk’s team asked it to be in February next year.
Twitter’s Legal Course Against Elon Musk
The next step in the drama of Elon Musk vs. Twitter is the court battle, where Twitter decided to sue Musk for stepping back from the proposed deal. As we all know, Musk agreed to buy Twitter for $44 billion but remained sketchy on some points. One of the major issues is the spam bot count, where Musk and the team have been asking Twitter for months to disclose the official number of spam accounts on their platform. While Twitter says it to be less than 5%, Musk counters that too, even more, around 20%. Since they’re on a debate note, Musk eventually decided to pull out of the deal. This triggered Twitter, as they suffered a lot with Musk’s drama all this time. Thus, they decided to sue Musk for withdrawing from the deal. And they’re doing it at the Delaware Court of Chancery, where Judge Kathaleen McCormick scheduled the lawsuit’s trial for October 17th – The Verge reports. This would go on for a span of five days, wrapping up on October 21st. Analysts say that Musk may either be forced to pursue the acquisition deal or pay the withdrawal penalty of $1 billion as an outcome. This puts Twitter in a good position, as they even received a date close to what they had requested. The social platform asked the court to set up a trial in September this year since it has a shareholder vote program on September 13th. While Musk’s team requested the date to be in February 2023, so they get enough time to comb through the data to find out the actual spam bot count.
