Musk accuses Twitter of putting pressure on the trial date to urge him to buy the company.
(Photo: AP)
Wilmington In the dispute over Elon Musk’s withdrawal from the multi-billion dollar Twitter deal, the short message service accuses the Tesla founder of delaying the company’s lawsuit to complete the takeover.
“Millions of Twitter shares trade daily under a cloud of Musk-created doubt,” the social media platform said on Monday. No public company of this size and scope has ever had to endure these uncertainties. Twitter therefore asked the responsible judge to reject Musk’s proposal for a trial date in February, according to a court filing.
Twitter continues to insist on a September hearing to secure the deal’s funding: Even if Musk is sentenced to close the deal, it could still take months to complete the debt financing due to possible further litigation, but it expires in April. With the lawsuit, the San Francisco-based company wants to force Musk to go through with the merger at the agreed price of $54.20 per share.
Musk previously said Twitter was pressuring the trial date to cover up the truth about spam accounts and urge him to buy the company. According to a report in the New York Post newspaper, Musk’s lawyers are considering a countersuit in order to get more information about the spam accounts. Both sides will present their arguments regarding the proposed trial start date before a Delaware judge on Tuesday.
Top jobs of the day
Find the best jobs now and
be notified by email.
More: Germany can cover investment needs of 600 billion euros without new loans