Aborted takeover of Twitter: Elon Musk’s trial scheduled for October

UA US judge has set the start of Twitter’s trial against Elon Musk in October for a period of five days, granting the social network’s request for a speedy procedure. The platform last week launched lawsuits against the boss of Tesla and SpaceX to force him to honor his commitment to acquire it for 44 billion dollars.

Twitter had requested an accelerated procedure, from September, so as not to prolong the period of uncertainty which partially paralyzes the company. Judge Kathaleen McCormick, president of a court specializing in business law in Delaware (northeast), acknowledged that “delays risked causing irreparable damage to Twitter”. She also mentioned that it was not certain that the payment of damages from Elon Musk would be enough to repair the harm suffered.

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“Mountains of data” to analyze

Elon Musk’s lawyers had filed an appeal on Friday for hostilities not to be opened before next year. They assure that the experts will have to analyze “mountains of data” to prove, as the multibillionaire claims, that the platform is full of automated accounts and spam, well beyond the proportion of 5% officially indicated. This is the reason that Elon Musk had given for unilaterally ending the agreement to take over the social network, which he considers to be a “public square” essential to democracy.

Although she is going through an image crisis after months of attacks and denigration from her ex-suitor, the platform is the favorite in this showdown. Twitter’s stock has been in good shape since the lawsuit was filed. The chances that Elon Musk will get away with paying only the termination indemnities of the agreement (one billion dollars) or that he will be declared in his right are considered very low. The multibillionaire and the board of directors can still choose to agree on a slightly lower price and thus avoid the lawsuit.

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