89 0 0 3 min to read

US court postpones the Twitter-Musk trial date.

Elon Musk, the CEO of Tesla, and Twitter will now have extra time to finalize their $44 billion transaction after a US judge on Thursday decided to postpone their impending trial.

The ruling from Delaware Chancery Court Judge Kathaleen McCormick stated, “If the transaction does not close by 5 p.m. on October 28, 2022, the parties are ordered to notify me by email that evening to acquire trial dates in November 2022.”

An Elon Musk v. Twitter trial was initially scheduled for October 17.

According to a US Securities and Exchange Commission filing dated Monday, Musk declared after sending a letter to Twitter informing the social media giant that he plans to close the purchase on the terms he agreed to in April.

Musk’s plea was rejected earlier on Thursday by Twitter’s legal counsel, who urged McCormick to continue the trial.

Musk said that Twitter broke the terms of the original agreement by exaggerating the quantity of spam and fraudulent accounts on its network in his initial letter to cancel the agreement, which he submitted in July.

In response, Twitter sued Musk to finalize the transaction, alleging that the billionaire was deploying bots as a ruse to back out of the deal.

Shareholders of Twitter voted in favor of Musk’s original deal earlier this month.

QR Code

Save/Share this story with QR CODE


Disclaimer

This article is for informational purposes only and does not constitute endorsement of any specific technologies or methodologies and financial advice or endorsement of any specific products or services.

πŸ“© Need to get in touch?

Feel free to Email Us for comments, suggestions, reviews, or anything else.


We appreciate your reading. 😊Simple Ways To Say Thanks & Support Us:
1.) ❀️GIVE A TIP. Send a small donation thru Paypal😊❀️
Your DONATION will be used to fund and maintain NEXTGENDAY.com
Subscribers in the Philippines can make donations to mobile number 0917 906 3081, thru GCash.
3.) πŸ›’ BUY or SIGN UP to our AFFILIATE PARTNERS.
4.) πŸ‘ Give this news article a THUMBS UP, and Leave a Comment (at Least Five Words).


AFFILIATE PARTNERS
LiveGood
World Class Nutritional Supplements - Buy Highest Quality Products, Purest Most Healthy Ingredients, Direct to your Door! Up to 90% OFF.
Join LiveGood Today - A company created to satisfy the world's most demanding leaders and entrepreneurs, with the best compensation plan today.


0 0 votes
Article Rating
Subscribe
Notify of
guest
0 Comments
Inline Feedbacks
View all comments
0
Would love your thoughts, please comment.x
()
x