A Delaware judge has ruled to allow Twitter to fast-track the company’s lawsuit to enforce Tesla and Space X CEO Elon Musk’s deal to buy Twitter.
It will proceed in September, according to business journalist Liz Claman.
BREAKING: Bad news for @elonmusk: Delaware Judge gives $TWTR the win against the $TSLA CEO saying @twitter’s lawsuit to enforce Musk’s deal to buy twitter *can* be fast-tracked and will proceed in September. $TWTR +3.3% in volume spike rn, 3pET we’re on it @ClamanCountdown
— Liz Claman (@LizClaman) July 19, 2022
The tech giant is looking to force Musk to complete his proposed $44 billion acquisition.
Musk’s legal team has said that Twitter’s pursuit of a “warp speed” trial is unfair, with Musk saying that Twitter violated the terms of the buyout by not giving in relevant information regarding spam bot accounts. Musk’s lawyers sought a February trial date, reports Bloomberg.
They write: “Musk backed out of the deal to buy the platform on July 8, saying in a regulatory filing Twitter made ‘misleading representations’ over the number of bot accounts. Twitter also hasn’t ‘complied with its contractual obligations’ to provide information about how to assess how prevalent the bots are on the social media service.”
Musk is reportedly planning to file a counter-lawsuit against Twitter to avoid being forced to buy the social media giant.
Musk’s lawyers wrote in a filing responding to Twitter’s lawsuit, “The core dispute over false and spam accounts is fundamental to Twitter’s value. It is also extremely fact and expert intensive, requiring substantial time for discovery.”
This is a breaking news story and will be updated.
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