Elon Musk Seeks to Block Twitter's Request for Expedited Trial

Reuters2022-07-16

Elon Musk filed a motion on Friday opposing Twitter Inc's request to fast-track a trial over his plan to terminate his $44 billion deal for the social media firm.

Musk's lawyers, in papers filed with the Delaware Chancery Court, said Twitter's "unjustifiable request to rush this $44 billion merger case to trial in just two months" should be rejected.

"Twitter's sudden request for warp speed after two months of foot-dragging and obfuscation is its latest tactic to shroud the truth about spam accounts long enough to railroad defendants into closing," the filing said.

The lawyers argued that the core dispute over false and spam accounts is fundamental to Twitter's value, is extremely fact- and expert-intensive, and will require substantial time for discovery.

The lawyers have requested a trial date on or after Feb. 13 next year.

Twitter declined to comment.

Shares of Twitter were down 0.69% in extended trading.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

Leave a comment
81