According to a court filing, Twitter Inc’s trial has been delayed by about a month, to November. Musk and Twitter have filed a lawsuit in Delaware state court, and a five-day trial is set to begin on October 17.
Twitter desires the judge to instruct Musk to close the deal at $54.20 per share, while Musk wants the court to rule that he can walk away without paying a $1 billion break-up fee because Twitter breached the deal contract. Musk requested that the judge allow both parties to continue briefing their cases until November 10, followed by a meeting to discuss what proofs they can present at trial. He stated that a trial could start a month later “subject to the availability of the court.”
Musk sued Twitter in July, accusing the company of deception in its securities filings about the amount of spam on the platform. He also claimed Twitter violated the deal contract and the Texas Securities Act. Earlier on Tuesday, a regulatory filing showed that Musk did send an additional letter of deal terminating Twitter to include a recent whistleblower complaint from the former security head of the social media firm as another reason to scrap the deal.
Earlier on Tuesday, a regulatory filing revealed that Musk had sent a supplemental letter of deal termination to Twitter, citing a recent whistleblower complaint from the social media firm’s former security chief as yet another reason to cancel the deal.
