The world’s richest man is also the CEO of Tesla; Musk abruptly pulled his bid of $44 billion to acquire Twitter which he considers the Town Square. Twitter sued Musk to enforce his promise. It is normal that their adversaries have brought facts and claims to disrupt each other. The battle for mental supremacy is the most important. They must communicate with each other to show that both are open to taking on whatever is necessary to keep them down.
On 12th July 2022, Twitter first filed a lawsuit in Delaware Chancery Court, 3 days after Musk’s withdrawal. This document also included the hilarious tweets of the entrepreneur. Twitter asked for a quick trial to get justice.
The Twitter company has requested that the trial should be held in September, as the agreement of the merger between both parties states that if the deal is not concluded by 24 October 2022, each party can end it without charge.
Twitter stated that defendants have limited rights to cancel the agreement on or before the Oct.24, 2022, presumptive drop-dead deadline. The defendants cannot terminate the deal if they cannot cure or fail to cure a closing condition within thirty days.
“Twitter faces problems and will continue suffering damage as a consequence of defendants’ breaches,” the company claimed.
Musk didn’t reply immediately. He waited for a while before launching a counterattack. Musk’s lawyers are asking for a delay in the trial, which they claim will be caused by Twitter’s complaint.
“Plaintiff’s proposed calendar would severely prejudice defendants in grudging them of a significant opportunity to take discovery and conduct analysis and present the case,” lawyers for the billionaire wrote.
“The outside duration of the debt financing that is before April 25, 2023, is the only relevant. The defendants respectfully request the trial to be held after Feb 13, 2023. This is a fast time for a case like this that gives the court enough time for reasoning adjudication prior to the true outside day.”
Musk wrote to withdraw his plan to buy Twitter. He blamed the management of Twitter for lying about the number of spam bots or false accounts that are present on the site. The Twitter platform has always said that counterfeit accounts comprise below 5 percent of its total users. Musk estimated that it is a minimum of 20%.
Twitter’s core dispute with spam accounts and false accounts is essential to its success. It is also highly factual and expert intensive and requires significant time for discovery. Twitter is a social network platform whose key performance metric is monetizable users per day (“mDAU Musk’s team stated in a 16-page motion filed last July 15.
The billionaire’s company stated, “Just issues are also unwarranted” because any exigency stems from plaintiff’s strategy delay.” “This dispute would have ripened in May if the Twitter company had promptly followed its obligations to contract and informed defendants that they would not,” the billionaire’s team said.
“Plaintiff tries to impose the weights of expedited proceeding upon the defendants” on the court. This cannot be submissive to failures to continue with speed.” A hearing is set for July 19 before a Judge. This hearing will decide the time and place of trial.