Elon Musk’s Feud With Twitter Heads Towards October Trial

Things sure move fast on the internet.

Just a week after Twitter officially sued Elon Musk for backing out of a US$44 billion takeover deal, a judge has ruled that the lawsuit will be fast-tracked to trial this October, despite the world’s richest man having asked for a delay. 

In its filings, the social media platform alleged the billionaire had “mounted a public spectacle” by announcing the buyout. 

Though after “having proposed and then signed a seller-friendly merger agreement,” had thought he was “free to change his mind, trap his company, disrupt its operations, destroy stockholder value, and walk away.” 

Now, as proceedings are heating up, it appears Musk’s request for the trial to be postponed till early next year, citing its complex nature, has not been granted. 

According to the BBC, the judge agreed with Twitter that a delay would undoubtedly cast a “cloud of uncertainty” over the matter. 

“Delay threatens irreparable harm. The longer the delay, the greater the risk,” explained Chancellor Kathaleen St Jude McCormick. 

As per CNN, at the start of the hearing, Twitter’s lead counsel William Savitt had said the “continued uncertainty” from the jeopardized deal “inflicts harm on Twitter every hour and every day.” 

Musk’s attorney Andrew Rossman argued that the Tesla founder “doesn’t have an incentive” to keep the buyout hanging in the air, considering he remains one of the network’s largest shareholders.  

With the two slated to continue this head-to-head battle in just months, it’s certain this takeover saga is nowhere near over. 

[via BBC and CNN, cover image via Vladyslav Yushynov | Dreamstime.com]