Twitter Inc. is not contesting Elon Musk’s proposal to start a trial on Oct. 17 over Musk’s bid to back out of his $44 billion buyout deal, but the social media company wants a commitment to end the trial within five days, As Twitter said in court. to present on Wednesday.
Musk has said he needs time to complete a thorough investigation into Twitter’s alleged misrepresentation of fake accounts, which he said violated the terms of their agreement.
He originally asked for a February trial, but on Tuesday proposed an October 17 trial after a judge ruled that proceedings would begin in three months.
Twitter has called the fake accounts a distraction and has pushed for a trial to get the Musk deal started as soon as possible, arguing that the delay is hurting its business. He said in the court filing that Musk did not ensure that the trial would be completed in five days, as ordered by Delaware District Court Judge Kathaleen McCormick.
“Twitter sought this settlement because it believes that Musk’s goal is to delay the trial, make the Court’s expungement order enforceable, and thereby avoid adjudicating its contractual obligations,” Twitter’s filing said.
Lawyers for Musk, the world’s richest person and CEO of electric car maker Tesla Inc, did not respond to requests for comment.
Twitter also dismissed Musk’s claims that the company was dragging its feet in responding to requests for documents.
Twitter said Musk is holding up the process by refusing to respond to the company’s complaint, which it said would shed light on the issues and potential claims.
Shares of Twitter closed up 1.3% at $39.85 on Wednesday.
Musk agreed to buy the company for $54.20 per share.
Twitter agrees to the October 17 trial, but is concerned that Musk will try to delay it
Source link Twitter agrees to the October 17 trial, but is concerned that Musk will try to delay it