Elon Musk’s Twitter takeover trial set to start in October

Illustration by Kristen Radtke / The Verge; Getty Images

Today, a Delaware court ruled that Twitter’s lawsuit against Elon Musk for attempting to back out of his acquisition of the company will be heard in October. This is a win for Twitter, which asked for a shorter timeframe than Musk.

Musk agreed to buy Twitter for $44 billion in April but then appeared to get cold feet about the deal. Despite having waived his ability to do “due diligence,” or research on the company he was planning to acquire, he claimed that Twitter had too many bots. He then tried to terminate the agreement. In response, Twitter sued to hold him to the purchase.

During oral arguments before the judge, Chancellor Kathaleen McCormick, Twitter claimed that Musk’s bot arguments were bad-faith attempts to back out of the…

Continue reading…

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Generated by Feedzy