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Elon Musk Opposes Twitter’s Fast-Track Trial Request in Filed Motion, Urges Delay Till February 2023

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Elon Musk

Key Specifications:

  • Elon Musk’s lawyers have requested a trial date in or after February 2022
  • Twitter shares were down about 1 percent in extended trading
  • Twitter sued Elon Musk on Tuesday for violating the deal to buy the social media platform
Elon Musk filed a movement on Friday opposing Twitter Inc’s request to fast-track a trial over his plan to terminate his $44 billion deal for the social media agency. Musk’s lawyers, in papers filed with the Delaware Chancery Court. It said Twitter’s “unjustifiable request” to rush the merger case to trial in two months should be rejected.

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.

Twitter requested to run the case in fast track trial

“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.

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 refuses to comment over Musk’s latest motion

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.

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.

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