According to Engadget (via The Verge), the trial between Twitter and Elon Musk over the billionaire’s efforts to terminate the $44 billion deal starts from October 17th until October 21st. Twitter and Musk will attend the Delaware Court of Chancery.
Elon Musk’s and Twitter’s story has become a big controversy for both. After a lot of back and forth, Musk finally announced that he was ready to buy the giant social network and even detailed how he wanted to fund the deal. But later, he stopped the deal due to the so-called bots and fake accounts on Twitter. All in all, the deal between Twitter and Elon Musk was not completed, and now they have to face each other in court.
Musk’s team first proposed October 17th as the day for trial, and Twitter agreed with that. Judge Kathaleen McCormick at the Delaware Court of Chancery will be responsible for investigating the case. Also, Twitter’s current shareholders will gather on September 13th to vote on the deal.
Of course, the trial in October was not first proposed by any side. Twitter lawyers were looking for a trial in September, and Musk’s lawyers wanted the trial to happen in February 2023. However, both sides finally agreed on October 17th.
Twitter launches a trial against Elon Musk over his withdrawal from the $44 billion deal
Inside Twitter, there was initially a lot of opposition to the sale of the company to Elon Musk. Some shareholders even started lawsuits against Musk. But in the end, they unanimously agreed to sell Twitter to the richest man in the world. When everything was ready for finalization, Musk announced that he would not finalize the deal at the moment due to a large number of bots and fake accounts on Twitter.
Musk’s contradictory views and actions affected Twitter’s Q2 2022 earnings results, and the company was forced to face a decline in revenue. Ultimately, everything depends on the lawyer’s efforts and court ruling.
If Twitter can end the trial in its favor, it can force Elon Musk to complete the $44 billion deal or even ask for compensation for a broken agreement. We may have to wait a few months to hear the court’s final verdict.