There is already a date for the trial derived from the lawsuit filed by Twitter against Elon Musk, for the withdrawal of the richest man in the world from proceeding with the purchase of the social network.
Last Tuesday, Twitter filed a lawsuit against the owner of Tesla, with the aim of appealing to justice for Musk to go ahead with the purchase. This Tuesday, the two parties met in the Delaware court, in a meeting to decide the date of the trial.
While Twitter defended a date for September, considering that the extension of the process is harming the company, Musk preferred a date in 2023, more specifically in February. The proposals also had differences in the duration of judgement: Elon Musk preferred a two-week trial, while Twitter wanted a faster four-day option.
Kathaleen McCormick, the judge responsible for this decision, preferred an option closer to the motion defended by Twitter, setting the start of the trial for next October. The duration of this judicial confrontation is also closer to the Twitter option, with five days.
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The specific date of the trial in October will now have to be agreed by both parties, McCormick also defined.
The judge considered that the two parties involved in the process have the capacity to participate in a faster trial. Also, because Twitter is a publicly traded company, it deserves “Have the cloud over your head” resolved quickly. “The reality is that a delay poses an irreparable threat to sellers,” the judge considered,
Twitter shares rose 3.93% in the Tuesday session to $39.92.
Elon Musk announced on July 8 that he no longer intended to go ahead with the acquisition of the social network. In April, when he announced his intention to buy Twitter, Musk was offering $54.2 per share, which would add up to $44 billion. The withdrawal of the head of Tesla and SpaceX was motivated by doubts about the weight of false accounts and bots in the total number of users of the social network.
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In a letter signed by Musk’s lawyer, Mike Ringler, the company was accused of not having “obeyed its contractual obligations” by not providing the relevant business information that the South African tycoon demanded.
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Source: Observadora
