The Chancery Court of Delaware (USA) ruled in favor of Twitter Inc. and agreed to an accelerated trial of the case regarding the purchase of the company by Elon Musk, writes CNBC.
The trial was scheduled for October and will last five days.
In court, the companyʼs lawyer, Bill Savitt, argued that a speedy review was necessary, saying that only this would stop the damage Twitter suffered due to the uncertainty of Elon Musk closing the deal.
Muskʼs lawyer, Andrew Rossman, insisted that the accelerated schedule is absolutely not suitable for his team, because Max wants to check the number of spam accounts on Twitter, and it takes more time to do that.
In addition, Rossman accused the company of continuing to keep secret the real data about the number of real users of the network.
- On April 5, 2022, Elon Musk bought a 9.2% stake in Twitter, after which the company offered him a seat on the board of directors. Musk refused and on April 14 offered to buy Twitter for $44 billion, but delays began in this matter. Mask failed to verify information about fake accounts.
- On July 9, Elon Musk announced that he was terminating the agreement to purchase Twitter, as representatives of the social network violated the terms. On July 13, Twitter sued the billionaire.