Twitter is opposing Elon Musk’s efforts to postpone a trial in which he is accused of trying to sabotage a $44 billion agreement to acquire the social network. To force him to go through with the deal, Twitter filed a lawsuit against Musk last week.
As a result, the firm requested that a court order a four-day trial for September, as requested by the corporation. Musk’s legal team, however, wants the trial to take place on or after Feb. 23.
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On Monday, Twitter’s attorneys argued that the “very public battle affects Twitter with each passing day that Musk is in breach.” By utilizing the company’s platform as a megaphone to trash it, Musk is amplifying this injury.”
On Monday, Twitter filed a lawsuit against the world’s richest man, which might lead to a long and bitter judicial battle. So, according to Musk, the agreement is off since Twitter hasn’t given him enough information to prove that less than 5% of the social network’s 229 million daily users are phoney or spammy.
Twitter’s ad revenue is the primary source of the company’s revenue, and so this user data is critical to understanding the business. Musk’s requests for details were “intended to derail” the agreement, according to Twitter’s complaint.
Tesla’s share price has dropped since the announcement of the agreement in April, making Musk’s purchase of Twitter more expensive, according to Twitter, which mentioned this in its complaint.
Tweets to the Delaware Chancery Court on Monday slammed Elon Musk’s claims about the number of automated or bot accounts on its site as a “contractually irrelevant diversion” that the billionaire “wants to exploit to denigrate Twitter and extend this dispute.”
Also, Musk was accused on Twitter of suggesting a trial timeline that is “unreasonably extended” and intended to “complicate and obfuscate.” Merger-enforcement challenges can be handled in 60 to 75 working days, according to the firm.
Court Judge Kathaleen McCormick will hold a hearing on Twitter’s request to have a four-day trial in September, which will take place on Tuesday, September 5.
Elon Musk’s effort to delay Twitter’s trial into the next year failed after a Delaware judge ruled that Twitter will get an October trial in its legal fight to hold Musk to his $44 billion takeover https://t.co/ZhHM7IN1S8 pic.twitter.com/WBxR5i4plA
— Reuters (@Reuters) July 20, 2022
Because the judge tested positive for COVID-19, the conference will take place via Zoom’s video conferencing software instead of in person. No response from Mike Ringler, the lawyer for Tesla CEO Elon Musk, was immediately returned by the company.
Elon Musk Responds to Twitter’s Lawsuit Over $44B Deal
The entrepreneur Elon Musk and Twitter are engaged in a heated court dispute over a $44 billion contract. Twitter had asked for a four-day trial in September, but Tesla CEO Elon Musk’s attorneys are now pushing for a Feb. 23 or later trial date, according to Bloomberg on Friday.
Even if the trial is scheduled for next year, attorneys for Tesla CEO Elon Musk claim that it is “very speedy pace for a case of this immense complexity.” Twitter filed a lawsuit on Tuesday after Musk announced he no longer wanted to buy the company for $44 billion.
This is the first response from Musk’s legal team to that case. By Musk’s admission, Twitter hasn’t given him enough information to prove that fewer than 5 percent of its 229 million daily users are bogus or spam accounts.
For Musk, it’s critical to understand Twitter’s advertising business because he believes the figure is considerably greater. Musk’s information queries were “intended to try to sink the merger,” Twitter said in the complaint. Most of Tesla’s stock has declined, making it more expensive for the billionaire to purchase Twitter from the firm, according to a complaint from the social media company.
A court has agreed to fast track the Elon Musk vs Twitter trial. Only problem now is 60% of Potential Jurors are bots.
— Jimmy Failla (@jimmyfailla) July 19, 2022
As a result of Musk’s efforts to “bully his way” out of the transaction, Twitter filed a motion Tuesday asking the Delaware court to expedite the process and safeguard its shareholders and the firm. That is something that Musk’s legal team is trying to prevent, though.
When Twitter suddenly requested warp speed after two months of foot-dragging and obfuscation, the lawsuit stated, it was its latest move to hide the facts about spam accounts long enough to force defendants to close.
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Additionally, Twitter claims that Musk violated a merger deal by sending a poop emoji in response to Twitter CEO Parag Agrawal in May, in violation of a clause that forbids him from making derogatory tweets.
According to Musk’s attorneys, “Twitter is ignoring the fact that Musk is its second largest stakeholder with a significantly higher economic stake than the whole Twitter board,” they said. Twitter is 9 percent owned by Musk.
In response to Twitter’s plea to expedite the trial, Chief Judge Kathaleen St. J. McCormick of the Delaware Chancery Court has set a hearing for July 19th, according to Bloomberg. Lawyers for Tesla CEO Elon Musk have filed a lawsuit against the social media company.
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