Elon Musk’s Twitter Takeover Trial to Begin in October

Highlight:

  • Delaware court will hear Twitter’s case against Elon Musk in October, earlier than requested.
  • Kathaleen McCormick, the chancellor of the Court of Chancery in Delaware, would be presiding over the hearing.

Elon Musk has been in the news for a considerable amount of time. Here is another update about the most talked-about topic in the town. In October, a Delaware court will hear Twitter’s case against Elon Musk for seeking to back out of his acquisition of the business. Twitter requested a shorter hearing period than Musk; thus, the winds are in favor of Twitter at the moment.

It was in April that Musk had agreed to purchase Twitter for USD 44 billion but remained quiet for an extended period about the agreement. Even though he was permitted to research the company he was planning to acquire, he asserted that Twitter had too many bots. Then, he attempted to terminate the agreement. Twitter filed a suit in response to holding the defendant from completing the purchase.

The judge who would be presiding over the hearing is Chancellor Kathaleen McCormick. During an oral trial, Twitter argued that Elon Musk’s objections regarding bots were not made in bad faith attempts to back out of the purchase owing to an acute case of buyer’s remorse. In the beginning, Twitter intended the trial to take place in September, but Musk requested that it take place in February. Nevertheless, the trial will last for five days, which is longer than what Twitter requested but shorter than what Musk did.

The legal representation for Twitter characterized Musk’s actions as “inexcusable” in the courtroom. Musk has held up an employee retention plan and is engaging in “needless value destruction.” In response, Musk’s legal team alleged that Twitter was playing games with Musk using bot data. Both teams concluded that Musk’s group had conducted millions of searches on Twitter’s firehose, which is a real-time stream of Tweets as they are sent. Musk’s attorneys also suggested that a leading daily was provided with a copy of Twitter’s complaint before they did.

McCormick stated that the delay would cost Twitter irreparably. Further, McCormick noted that she was sure that the teams of attorneys would be able to rise to the occasion, although a court date in October is a rapid turnaround.

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