Twitter-Musk Takeover Dispute Heading For October Trial
A judge in the United State has ordered that the lawsuit between social media giant, Twitter and American billionaire and businessman Elon Musk go to trial in October 2022.
This comes as a blow to Musk who had earlier asked for a postponement in the commencement of the trial with his team citing complexities.
Twitter on the other hand, had requested for a date in September but a judge in the state of Delaware agreed with Twitter and said a delay to the trial would cast a “cloud of uncertainty”.
“Delay threatens irreparable harm,” Chancellor Kathaleen St Jude McCormick said. “The longer the delay, the greater the risk.”
The lawsuit accused Musk of a “long list” of violations ahead of the potential merger and argued that he had “cast a pall” over the company.
It would be recalled that Musk had walked away from his $44bn (£36bn) bid to buy Twitter earlier in July, which prompted the company to file a lawsuit against him.
Twitter hopes that the court will order Musk to complete the takeover at the agreed price of $54.20 per share.
The tech billionaire had openly accused Twitter of withholding information about fake accounts.
At the hearing on Tuesday, Twitter’s lead counsel William Savitt said the ongoing uncertainty about whether the takeover would go forward or not “inflicts harm on Twitter everyday.”
