Elon Musk asked the court to start a trial in February in the case of voiding the $44 billion deal with Twitter. Which was rejected by the court. Terming the delay as a loss to Twitter, the court has ordered the trial to begin from October.
Twitter and Elon (Elon Musk) Musk’s ‘juggling’ has been going on since last year, which is likely to continue for the next few years as well. In fact, last year Elon Musk announced to buy Twitter. After which a $44 billion deal was finalized between Elon Musk and Twitter Inc, the company that owns Twitter. But this July, Elon Musk canceled the deal. After which the matter has reached the jurisdiction of the court. In a major update on Tuesday, the court dealt a major blow to Elon Musk. In fact, rejecting Musk’s demand, the court has announced an order to start the hearing of this case from October this year.
Elon Musk has been demanding a trial since February
Elon Musk’s decision to terminate the $44 billion deal related to the Twitter acquisition was challenged in court by Twitter Inc. Twitter Inc directly filed a case against Musk in this matter. Elon Musk and Twitter Inc filed their petition with the court regarding the hearing on Tuesday. In which Musk asked the court to start the hearing of this case from February. While Twitter requested the court to hold a four-day hearing at the end of September.
The court said, delaying the trial will cause damage to Twitter
A court in Delaware has decided to open a trial in October against Elon Musk over the canceled Twitter deal. Kathleen McCormick, chancellor of the Court of Chancery in Delaware, hearing the matter, said both sides were able to handle the trial process as quickly as possible. As a public company trying to resolve the delay, Twitter is entitled. The court, in its remarks while delivering the judgement, said, “The reality is that there is a risk of irreparable loss to the sellers because of the delay.” The court said these things while referring to Twitter. A Delaware court asked both Twitter Inc and Elon Musk to schedule hearings.
