The highly anticipated Elon Musk vs. Twitter trial has officially started and so far Musk is losing.
On the opening day of the Musk vs. Twitter trial, a Delaware judge denied Musk’s petition to delay the trial until next year, and instead the trial will take place in October of this year.
Currently, Twitter is suing Musk for allegedly backing out of a contract to buy Twitter for over $40 billion.
Musk on the other hand claims Twitter failed to expose the number of bots that are used on the platform.
BREAKING: Twitter vs Elon Musk first court hearing opens
— Insider Paper (@TheInsiderPaper) July 19, 2022
BREAKING: Delaware judge allows Twitter to fast-track suit against Elon Muskhttps://t.co/wBDGq9K6bM
— Dinesh D'Souza (@DineshDSouza) July 19, 2022
ABC News added these details:
Elon Musk lost a fight to delay Twitter’s lawsuit against him as a Delaware judge on Tuesday set an October trial, citing the “cloud of uncertainty” over the social media company after the billionaire backed out of a deal to buy it.
“Delay threatens irreparable harm,” said Chancellor Kathaleen St. Jude McCormick, the head judge of Delaware’s Court of Chancery, which handles many high-profile business disputes. “The longer the delay, the greater the risk.”
Twitter had asked for an expedited trial in September, while Musk’s team called for waiting until early next year because of the complexity of the case. McCormick said Musk’s team underestimated the Delaware court’s ability to “quickly process complex litigation.”
Twitter is trying to force the billionaire to make good on his April promise to buy the social media giant for $44 billion — and the company wants it to happen quickly because it says the ongoing dispute is harming its business.
Musk, the world’s richest man, pledged to pay $54.20 a share for Twitter, but now wants to back out of the agreement.
Twitter and Elon Musk will go to trial in October over whether the billionaire must complete his $44 billion acquisition of the social media company, a Delaware judge ruled on Tuesday. https://t.co/feO8w9XHbu
— The New York Times (@nytimes) July 19, 2022
CNN added these details:
In an early victory for Twitter, a judge on Tuesday ruled that the company’s lawsuit against Elon Musk over their $44 billion acquisition agreement should go to a five-day trial in October.
The decision came at the end of the first hearing in the case over whether to expedite the proceedings. When it filed the suit last week, days after Musk moved to terminate the deal, Twitter (TWTR) filed a motion to expedite the proceedings and requested a four-day trial in September. Musk’s legal team opposed the motion.
Tuesday’s hearing featured sharply worded arguments from both sides — including Twitter’s lawyer at one point referring to Musk as a “committed enemy” — setting the stage for what is almost certain to be a contentious legal battle.
Twitter’s lead counsel William Savitt came out swinging against Musk at the start of the hearing as he argued in favor of a speedy trial. Savitt said the continued uncertainty hanging over the company from the outstanding deal and litigation “inflicts harm on Twitter everyday, every hour and every day.” He also pointed to what he described as Musk’s continued disparagement of Twitter, including on its own platform.