Based on the hearing, a decision is expected to be made on whether the Twitter-Elon Musk trial will be expedited
A Delaware judge in the US has agreed to proceed next week with the hearing in the case of the legal dispute between the social networking site Twitter and the tycoon Elon Musk in order to decide whether to speed up the trial until September.
Twitter Inc sued Elon Musk on Tuesday for breaching a $44 billion deal to buy the social networking platform and asked a Delaware court to order the world’s richest man to complete the merger at the agreed-upon $54.20 per share. Twitter, a court filing says.
“Musk apparently believes that he – unlike any other party subject to Delaware contract law – is free to change his mind, trash the company, disrupt its operations, destroy its stock value, and to leave,” the lawsuit states.
On Friday, Musk said he was ending the merger because Twitter breached the agreement by failing to respond to requests for information about fake or spam accounts on the platform, which is fundamental to its business performance.
Musk did not immediately respond to a request for comment.
The lawsuit accuses Musk of a “long list” of violations of the merger agreement that “have cast a veil over Twitter and the business.”
Shares of the social networking platform fell to $34.06 on Tuesday from above $50 when the deal was approved by Twitter’s board in late April.
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