Twitter-Elon Musk Feud Expected To End Next Week
Twitter-Elon Musk trial deadline has moved to October 28 to provide Musk with enough time to close the deal.
A Delaware judge postponed a planned trail, initially scheduled for this week, to Oct. 28 deadline to allow Musk time to finalize the $44 billion Twitter sale that was first announced in April. Musk previously tried to walk away from his offer previously due to Twitter’s failure to respond to multiple requests for information on spam accounts on the platform. This prompted Twitter to sue in an effort to consummate the agreement.
If the deal fails to close by the extended deadline, both parties would have to contact the judge for a November trial, said Judge Kathaleen McCormick.
Musk’s team said that a close would be possible “on or around Oct.28.” The filing from Musk explained the failure of Twitter to provide information related to Twitter’s process for “auditing the inclusion of spam and fake accounts” and the company’s process for suspending the same.
Other unreported information includes Twitter’s financial condition and the calculations the company used to represent that fewer than 5% of the population are spam accounts.
Twitter’s chairman Bret Taylor tweeted in response to the situation.
“The Twitter Board is committed to closing the transaction on the price and terms agreed upon with Mr. Musk and plans to pursue legal action to enforce the merger agreement. We are confident we will prevail in the Delaware Court of Chancery.”
Twitter has also updated its employee FAQ page this week to alert staff that they won’t be able to access or trade shares from the Equity Award Center, according to the report. This signals a positive sign regarding the closure of the deal.



































































































