WILMINGTON, Del. — Twitter Inc. doesn’t object to a proposal by Elon Musk to begin an Oct. 17 trial over Musk’s bid to stroll away from his $44 billion acquisition deal, however the social media firm needs a dedication to finish the trial in 5 days, Twitter mentioned in a court docket submitting on Wednesday.
Musk has mentioned he wants time to finish an intensive investigation of what he says is Twitter’s misrepresentation of pretend accounts, which he mentioned breached their deal phrases.
He initially sought a February trial, however on Tuesday proposed an Oct. 17 trial after a decide dominated the continuing was to begin in three months.
Twitter has known as the pretend accounts a distraction and pushed for the trial to carry Musk to the deal to begin as quickly as potential, arguing that delay damages its enterprise. It mentioned in its court docket submitting that Musk has provided no assurance a trial could be accomplished in 5 days, as ordered by the decide, Kathaleen McCormick of the Delaware Courtroom of Chancery.
“Twitter sought that dedication as a result of it believes Musk’s goal stays to delay trial, render impracticable the Courtroom’s expedition order, and thus keep away from adjudication of his contractual obligations,” mentioned the Twitter submitting.
Attorneys for Musk, the world’s richest individual and chief government of electrical automobile maker Tesla Inc, didn’t reply to requests for remark.
Twitter additionally dismissed Musk’s claims that the corporate was dragging its toes in responding to his calls for for paperwork. Twitter mentioned Musk is the one holding up the method by refusing to reply the corporate’s criticism, which it mentioned would make clear the problems and any counterclaims he could assert.
Shares of Twitter closed up 1.3% at $39.85 on Wednesday. Musk agreed to amass the corporate for $54.20 a share.