On Friday, Elon Musk and his legal team opposed Twitter’s desire to begin the trial in September by submitting a move to the Delaware Chancery Court in opposition to the proposal. Twitter filed a lawsuit against Musk because he intended to scrap the social media company’s takeover for a total of $44 billion. In the application, Musk’s legal team said that Twitter’s attempt to speed up the trial was “unjustifiable” and urged the judge to deny the company’s request.
Musk made the decision to cancel the arrangement as a result of Twitter’s failure to divulge information on the spam accounts that exist on its platform. Musk’s brief said that Twitter’s sudden call for warp speed after two months of foot-dragging and obfuscation is the company’s latest move to obscure the facts about spam accounts long enough to force defendants into closure.
Elon Musk is playing Chess
Due to the fact that the deal with Musk would expire on October 25, 2022, Twitter asked that the trial begins in September. The attorneys for Musk would want the merger trial to begin in February 2023, which is five months later than the date sought by Twitter.
In the event that the trial does not reach a conclusion by April 2023, Musk’s transaction with Twitter may fall through. This is due to the fact that the debt financing package that banks have agreed to provide for the billionaire’s purchase ends during that month. A number of observers are of the opinion that Musk is making every effort to postpone the trial in the hopes of purchasing the social media behemoth at a more affordable price.