Topline
Elon Musk is resisting Twitter’s request for an expedited trial in its effort to force him to close on a $44 billion deal to buy the company, according to multiple reports, with his lawyers filing a motion Friday that asks that the trial not begin until February 2023.
SpaceX owner and Tesla CEO Elon Musk arrives on the red carpet for the Axel Springer Award 2020 on … [+]
Key Facts
Musk’s lawyers decried Twitter’s request for a “warp speed” trial in the filing with Delaware Chancery Court, saying they need time to conduct a “forensic review and analysis of large swaths of data,” according to Bloomberg.
Twitter is seeking a four-day trial in September, but Musk’s team reportedly said a trial should be held no earlier than February 13.
The filing marks Musk’s first formal response to the lawsuit Twitter filed Tuesday, which accuses him of violating the terms of their agreement.
Twitter did not immediately respond to a request for comment from Forbes.
Key Background
Musk informed Twitter last week he was terminating the deal, after repeatedly accusing the company of not providing enough information to determine how many fake and spam accounts are on the platform. Mike Ringer, Musk’s attorney, said in a letter to Twitter that the company was in “material breach of multiple provisions,” but Twitter fired back in its lawsuit, claiming it was Musk that violated the agreement. Twitter accused Musk of undertaking a “fishing expedition” to try to get out of the deal, which it argued was a result of his personal wealth tumbling after a downturn in Tesla’s share price. The company called Musk’s requests for more information on spam accounts “increasingly invasive and unreasonable” and, at least in some cases, not contractually required.
Crucial Quote
“With the sense of humor of a bot, Twitter claims Musk is damaging the company with tweets like a Chuck Norris theme and a poop emoji,” Musk’s attorneys wrote in the filing, according to Bloomberg. Twitter in the lawsuit referenced Musk tweets that were critical of it to argue he publicly disparaged the company, which would violate a non-disparagement section of the agreement.
What To Watch For
A hearing on the request to expedite the trial is set for Tuesday.
Further Reading
Musk Says Twitter Dragged Feet on Deal and Now Rushing Trial (Bloomberg)
Twitter Sues Elon Musk For Trying To Cancel Acquisition (Forbes)
Elon Musk ‘Terminating’ Deal To Buy Twitter—Platform Plans Legal Action (Forbes)
Source: https://www.forbes.com/sites/nicholasreimann/2022/07/15/elon-musk-fights-twitters-push-for-speedy-trial-in-deal-dispute/