Both sides of the conflict reached an agreement. The court will name the culprit in the fall.
Forget the court battle between Johnny Depp and Amber Heard. Now it’s time for Musk and Twitter. The tumultuous epic of buying Elon’s favorite medium will end in less than three months.
A five-day trial will find the guilty party
Earlier this month, I wrote about the controversial resignation of the head of Tesla from the purchase of Twitter. All indications were that the $44 billion deal was already closed, but the world’s richest man changed his mind at the last minute and cited a breach of contract. This caused considerable outrage from Twitter’s board of directors, who promised to make every effort to hold Musk accountable, although I would like to remind you that he was not so optimistic about this sale at first.
The legal staffs of both parties will now have their hands full. Earlier in the week, Musk’s team proposed an Oct. 17 deadline if the hearing did not last more than five days. Today we can officially confirm that according to Judge Kathaleen McCormick’s decision, the trial will take place on October 17-21.
Elon Musk will try to prove that the management of Twitter gave him false data about the activity of bots on the platform. The opposing party will “take legal action to enforce the merger agreement” or seek to obtain $1 billion in damages from Musk for wrongfully withdrawing from the transaction. Additionally, Twitter accuses Elon of contributing to the undervaluation of the stock, which has not weathered the turbulence surrounding Musk’s withdrawal from the purchase. Will this be the end of the tumultuous relationship that the whole internet was talking about? Or maybe this is just the beginning of serious problems? I will find out in October.
Stock image from Depositphotos