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Home / Insurance / Twitter accepts the Oct. 17 trial, but is worried Musk will try to delay

Twitter accepts the Oct. 17 trial, but is worried Musk will try to delay



(Reuters) – Twitter Inc. is not objecting to a proposal by Elon Musk to begin an Oct. 17 trial of Mr. Musk’s bid to walk away from his $44 billion acquisition deal, but the social media company wants a commitment to complete the deal. trial in five days, Twitter said in a court filing on Wednesday.

Musk has said he needs time to complete a thorough investigation into what he says is Twitter’s misrepresentation of fake accounts, which he said violated the terms of their agreement.

He originally sought a trial in February, but on Tuesday proposed an Oct. 17 trial after a judge ordered proceedings to start in three months.

Twitter has called the fake accounts a distraction and pushed for the lawsuit to keep Mr. Musk at the deal to start as soon as possible, arguing that delays hurt its business. It said in its lawsuit that Mr. Musk has offered no guarantee that a trial would be completed within five days, as ordered by Judge Kathaleen McCormick of the Delaware Court of Chancery.

“Twitter sought that commitment because it believes Musk̵

7;s goal is to delay the lawsuit, make the court’s expedited order unenforceable, and thus avoid judging its contractual obligations,” the Twitter filing said.

Lawyers for Mr. Musk, the world’s richest person and chief executive of electric car maker Tesla Inc., did not respond to requests for comment.

Twitter also dismissed Musk’s claims that the company was dragging its feet in responding to his demands for documents. Twitter said Musk is holding up the process by refusing to respond to the company’s complaint, which the company said would clarify the issues and any counterclaims he might assert.

Shares of Twitter closed up 1.3% at $39.85 on Wednesday. Musk agreed to acquire the company for $54.20 per share.


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