Elon Musk’s Twitter: Twitter’s battle with Elon Musk over $44 billion deal moves closer to trial Oct 17

Twitter hold application Elon Musk his $44 billion deal for the social media platform will face a five-day trial starting in October. Dec. 17, and Musk must disclose by the end of Friday any legal action he has against the company, a Delaware judge ruled.

Musk, the richest man in the world and chief executive Tesla Inc, must file any counterclaims, according to an order signed late Thursday evening by Chancellor Kathleen. McCormick or the Delaware Court of Chancery.

Musk’s lawyers said he could file counterclaims — essentially his own lawsuit against Twitter – in which he could claim financial damages for the disputed transaction.

Tesla CEO and SpaceX Chef said he was pulling out of the deal on July 8, accusing Twitter Inc of violating the merger agreement by misrepresenting the number of fake accounts on its platform.

A few days later, Twitter filed a lawsuit, calling claims of a fake account a distraction and saying that Musk was obligated under the merger contract to close the deal at a price of $54.20 per share. Shares of the company rose 1.4% in early trading on Friday to $41.45.

McCormick expedited the case last week, saying she wants to limit the potential damage to Twitter caused by deal uncertainty.

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Twitter blamed the legal battle for plummeting revenue and creating chaos within the company.

Both sides basically agreed on October. 17 of the trial, but disagreed over the limits of detection or access to internal documents and other evidence.

This week, Musk accused Twitter of being slow to respond to his disclosure requests, and Twitter accused him of seeking vast amounts of data that were irrelevant to the main issue in the case: whether Musk violated the deal.

The Chief Justice, in his order, appears to have foreseen the coming controversy about the opening.

“This order does not resolve any specific discovery disputes, including the appropriateness of any requests for large datasets,” McCormick said.

Musk also faces a week-long trial in Wilmington, Delaware, in early October. 24. Tesla shareholder seeks to void both corporate embezzlement and unjust enrichment a record $56 billion CEO payout from the electric car maker.

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