Twitter has scored a victory in its lawsuit in opposition to Elon Musk over his tried exit from a $44 billion takeover deal. In an preliminary listening to, Delaware Courtroom of Chancery chancellor Kathaleen McCormick has granted Twitter’s request for an expedited, five-day trial starting in October. The corporate initially sought a four-day trial in September as a part of its effort to make Musk “honor his obligations.”
Musk’s attorneys requested the courtroom to delay the trial to February 2023. They claimed Twitter was in a sudden rush to finish a trial and pressure the acquisition comply with two months of alleged “foot-dragging and obfuscation” over requested information regarding bots and different faux accounts. Musk accused Twitter of underreporting the amount of bogus accounts (and failing to supply sufficient info) in a bid to clinch the deal. As a part of the decision for a delay, Musk’s attorneys additionally claimed they wanted extra time to look Twitter’s uncooked “firehose” information.
Whereas Twitter did not get precisely what it needed, the ruling is a transparent victory for the social community. It will not have to attend lengthy to acquire a choice, and will pressure Musk to rely totally on the claims he made when he introduced plans to again out of the acquisition. There’s an opportunity Musk might must proceed with the buyout earlier than the 12 months is over, irrespective of how a lot he would possibly remorse making the provide.
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