A Delaware Chancery Court judge on Tuesday granted Twitter (TWTR) a five-day trial slated for October in its case seeking to force Tesla (TSLA) CEO Elon Musk to buy the social media site for $44 billion after he tried to terminate the deal last month.Twitter had sought to expedite the trial so the matter could be resolved before the deal’s Oct. 24, 2022 “drop dead” date — a deadline that, if reached before the transaction is finalized, allows either party to walk away. Twitter wanted to resolve the case in a four-day trial in September, while Musk wanted to push the case until February.”The reality is that delay threatens irreparable harm to the seller, Twitter, for the reasons I described earlier: The longer the delay, the greater the risk. Given this reality I think a schedule closer to the norm is in order. For this reason, I think we should go to trial in October of this year,” Chancellor Kathaleen McCormick ruled on Tuesday.’A cloud of Musk-created doubt’Musk contends he’s backing out of the deal because Twitter isn’t providing him with data regarding the number of fake accounts, known as bots, that operate on its platform — and in some…
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Twitter granted 5-day trial in October in case against Elon Musk – Yahoo Finance
