Elon Musk‘s lawyers announced on Friday that it was filing a lawsuit in Delaware Chancery Court, arguing that Twitter’s requests to expedite the case were “unfair”. dogecoinFamous billionaire Elon Musk, who is also known for his closeness to .
According to the documents, Elon Musk requested a lawsuit on or after February 13, 2023, balancing the interests of both parties and the court.
Elon Musk Facing Court!
Koinfinans.com As we reported, according to the latest filing filed on July 15, Elon Musk opposes Twitter’s move to speed up legal proceedings in September and claims that the $44 billion merger lawsuit to be prosecuted within two months should be dismissed.
twitterLast Tuesday, it claimed Elon Musk was in breach of the agreement based on its inability to find a bot or spam account on Twitter, and announced it was filing a lawsuit. Twitter filed a request to expedite the case, demanding the court order Musk to complete the settlement at the agreed price of $54.20 per share.
The latest move by Elon Musk could be the beginning of a long and big legal battle between the two giants. In fact, Musk has already requested the court to adjourn the case until February next year, based on the complexity and technical aspects of the case. In particular, the debate about false and spam accounts determining Twitter’s true value has been going on for some time.
Interestingly, the debt financing package for the acquisition expires in April 2023. This means that if the case is not completed by that date, the deal could end.
Although Twitter’s share price rose 4 percent to $37.74 on Friday, that price is still well below the $54.20 price agreed in the deal. Wall Street experts do not believe that the deal will happen at the agreed price and is subject to renegotiation.
Litigation Affects Dogecoin Price
Popular meme coin after Elon Musk’s latest move Dogecoin price recorded a decline. DOGE, which was traded at $0.0621 at the time of the news, fell 2.47% in the last 24 hours. The price rallied as high as $0.06426 in the 24-hour period and dropped to a low of $0.06187. In the last 7 days, it was far from performing well, losing 10.55% in value.
You can follow the current price action here.
Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, Koinfinans and the author of this content cannot be held responsible for personal investment decisions.