September 24, 2022

EUNews24

Latest Breaking News, European Affairs

Elon Musk Requests To Delay Twitter Court Trial By A Month

0 0
2 min read
elon musk
0 0
Read Time:1 Minute, 15 Second

Elon Musk-Twitter Deal: Elon Musk sued Twitter in July and accused the company of fraud for misleading him about the amount of spam on the platform in its securities filings.

United States: 

Elon Musk on Tuesday asked court permission to delay the Twitter Inc trial by about a month to November, according to a court filing.

Elon Musk and Twitter have sued each other in Delaware state court and a five-day trial is scheduled to start Oct. 17.

Twitter wants the court to order Elon Musk to close the deal for $54.20 per share, while Elon Musk wants an order saying he can walk away without paying a $1 billion break-up fee alleging Twitter violated the deal contract.

Elon Musk asked the judge to let both sides continue briefing their cases through Nov. 10, followed by a conference to discuss what evidence they can introduce at trial. He said a trial could begin later that month “subject to the court’s availability”.

Elon Musk sued Twitter in July and accused the company of fraud for misleading him about the amount of spam on the platform in its securities filings. He also alleged Twitter breached the deal contract and violated the Texas Securities Act.

Earlier on Tuesday, a regulatory filing showed that Elon Musk has sent an additional letter of deal termination to Twitter to include a recent whistleblower complaint from the former security head of the social media firm as another reason to scrap the deal.

Happy
Happy
0 %
Sad
Sad
0 %
Excited
Excited
0 %
Sleepy
Sleepy
0 %
Angry
Angry
0 %
Surprise
Surprise
0 %

Advertisements