The Delaware Court of Chancery says Elon Musk’s Twitter deal will go to court in October.
Twitter filed a lawsuit against Musk last week to force him to make good on his deal to buy Twitter. In a suit, the company’s lawyers said Musk is walking away from the deal because it “no longer serves his personal interests.”
Twitter’s lawyers asked the court to expedite the trial to September, while Musk’s representatives wanted to push the date to 2023.
“The reality is that delay threatens the risk of irreparable harm. We should go to trial in October of this year,” Chancellor Kathaleen St. Jude McCormick said in her decision, dismissing any chance the trial would be delayed to 2023.
The world’s richest man announced he was going to buy the social media company earlier this year before making attempts to walk away, citing the company has been “in material breach” of commitments it made.
“For nearly two months, Mr. Musk has sought the data and information necessary to ‘make an independent assessment of the prevalence of fake or spam accounts on Twitter’s platform,’” a letter to the U.S. Securities and Exchange Commission (SEC) from Musk’s legal team says.
Source: Delaware Court of Chancery Via The Independent