News

Elon Musk to stand trial in october over Twitter’s lawsuit

Elon Musk, the richest man in the world, has lost his request for a postponement after a US court ruled that Twitter’s case against him go to trial in October.

When Mr. Musk withdrew from his $44 billion (£36 billion) offer to purchase Twitter earlier in July, the firm decided to sue him.

Twitter is hoping that the court will direct Mr. Musk to finalize the acquisition at the agreed-upon share price of $54.20.

The software tycoon claims that Twitter is hiding information regarding bogus accounts.

Due to the complexity of the case, his legal team requested that the trial start early in 2019, while Twitter requested a September date.

A Delaware court agreed with the business on Tuesday, stating that a trial postponement would create a “fog of uncertainty.”

Kathaleen St Jude McCormick, the chancellor, stated that “delay threatens irreparable harm.” “The risk increases with the length of the wait.”

Prior to the proposed merger, Mr. Musk was charged with a “large list” of breaches, according to the complaint, and it was claimed that he “cast a cloud” over the business.

Twitter’s main attorney William Savitt stated at the hearing on Tuesday that the lingering uncertainty over whether the merger would proceed or not “inflicts injury on Twitter everyday.”

Related Articles

Leave a Reply

Check Also
Close
Back to top button
%d bloggers like this:

Adblock Detected

Please consider supporting us by disabling your ad blocker