Begin typing your search above and press return to search.
proflie-avatar
Login
exit_to_app
Although late, arrest warrant arrived
access_time 25 Nov 2024 8:45 AM GMT
Political dimensions of peoples verdict
access_time 24 Nov 2024 3:45 AM GMT
Adani and his group buying governments
access_time 23 Nov 2024 6:53 AM GMT
Trump
access_time 22 Nov 2024 2:47 PM GMT
election commmission
access_time 22 Nov 2024 4:02 AM GMT
Champions Trophy tournament
access_time 21 Nov 2024 5:00 AM GMT
DEEP READ
Munambam Waqf issue decoded
access_time 16 Nov 2024 5:18 PM GMT
Ukraine
access_time 16 Aug 2023 5:46 AM GMT
Foreign espionage in the UK
access_time 22 Oct 2024 8:38 AM GMT
exit_to_app
Homechevron_rightWorldchevron_right"Unjustifiable...

"Unjustifiable request": Elon Musk seeks to delay the start of Twitter court battle

text_fields
bookmark_border
Unjustifiable request: Elon Musk seeks to delay the start of Twitter court battle
cancel

San Francisco: Elon Musk on Friday filed a motion opposing Twitter Inc's request to fast-track a trial over his plan to terminate his $44 billion deal for the social media firm.

In papers filed with the Delaware Chancery Court, Musk's lawyers, said Twitter's "unjustifiable request" to rush the merger case to trial in two months should be rejected.

"Twitter's sudden request for warp speed after two months of foot-dragging and obfuscation is its latest tactic to shroud the truth about spam accounts long enough to railroad defendants into closing," Musk's filing said.

It is the latest move in what promises to be a major legal showdown between Twitter and Musk. The San Francisco-based company is seeking to resolve months of uncertainty for its business as Musk tries to walk away from the deal for what he says is Twitter's "spam bot" problem.

Musk's lawyers argued the dispute over false and spam accounts is fundamental to Twitter's value and extremely fact- and expert-intensive. They said it would require substantial time for discovery and requested a trial date on or after February 13 next year.

Twitter sued Musk on Tuesday for violating the deal to buy the social media platform, asking a Delaware court to order the world's richest person to complete the merger at the agreed price of $54.20 (roughly Rs. 4,500) per share.

The company requested the trial begin in September because the merger agreement with Musk terminates on Oct. 25.

The debt financing package committed by banks for Musk's acquisition expires in April 2023. That means if the trial began in February and did not finish by April, the deal could collapse.

Twitter declined to comment on Musk's latest motion.

Shares of Twitter were down about 1 percent in extended trading.

Show Full Article
TAGS:twitterElon musk
Next Story