First win for Twitter: Elon Musk lawsuit continues in October this year | Abroad

Musk decided at the beginning of this month not to let the $44 billion acquisition go ahead. Twitter then took the South African to court, asking for an accelerated trial. According to Twitter, the potentially lengthy legal battle poses a risk to the company. So it proposed a four-day trial in September. Musk’s lawyers argued that more time is needed because the matter is complex. They wanted ten days in February 2023.

However, the chairman of the Delaware Court of Chancery Kathaleen McCormick decided that an accelerated trial is in order here. For five days in October, both sides will hold their pleas.

McCormick could then decide that Musk must pay Twitter a $1 billion fine for breaking the sale agreement. Twitter, however, wants to force Musk to let the $44 billion acquisition go through. It is also possible that the court chairman will side with Musk and the deal will be broken without consequence. Finally, it is possible that McCormick will choose a happy medium by having Musk cough up damages of more than one billion, but less than 44 billion.

Twitter’s share rose 3.4 percent Tuesday afternoon US time. A lawyer for Elon Musk declined to respond to questions from Reuters news agency. A spokesperson for Twitter spoke to Reuters. “We are pleased that the court agreed to expedite this process,” said a spokesperson who was not named.

Musk doesn’t want to buy Twitter after all, but company goes to court to let $44 billion deal go ahead

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