The Twitter takeover trail by Elon Musk is set to begin during October
Today, a Delaware court has ordered that Twitter's lawsuit against Elon Musk, who has attempt to make a back out of his acquisition of the company would be heard during the month of October. The time period given by court would be considered as a win situation for Twitter, who has asked for a shorter timeframe than the Musk.
HIGHLIGHTS
- Court has ordered to start the trail in October
- Twitter wanted a date in September; Musk asked in February
- Twitter's counsel has claimed that Musk's conduct was 'inexcusable'
Also Read: Elon Musk abandoned the 44billion deal to buy Twitter
In the month of April, Elon Musk had agreed to purchase Twitter for around $44 Billion but he was then noticed to get cold feet about the whole deal. Well, inspite of waiving at his ability to try 'due diligence,' or to do a research on the company as he had planned to acquire it but rather he claimed Twitter had several bots. Later, he was spotted to terminate the agreement. However, as a response Twitter had sued to carry him to the acquisition.
While having an oral arguments in front of the judge, Chancellor Kathaleen McCormick, Twitter had claimed that the arguments by Musk's bots were appeared to have a bad-faith attempts in order to back out of the deal because of an acute case of buyer’s remorse. Well, Twitter originally had asked for a date in September whereas Musk asked for it in February. It is expected that the trial would be five days longer than Twitter had asked for but shorter than Musk did. Well, the exact dates had not been decided yet by the court.
In court, Twitter’s counsel has eventually mentioned that Musk’s conduct was “inexcusable.” Well, Elon Musk was seen to held a retention plan, and has been participating in “needless value destruction.” In response to such statement, Musk’s lawyers have prompted that Twitter was giving Musk the run-around with not data. Both of the parties have agreed to that fact that Musk's team had run multiple queries on Twitter's real-time feed of Tweets in the order they are sent.
After a 10-minute of recess, McCormick has mentioned that a delay had threatened irreparable harm to Twitter. She even said that she was confident enough that the team of lawyers would rise on the court date in October.
Also Read: Twitter asked its Employees to not Tweet anything about the Elon Musk Deal