It has been confirmed that the Twitter lawsuit seeking to make Elon Musk follow through with his multi-billion-dollar bid to buy the social network will officially go to trial on October 17, according to a Delaware court decision.
From October 17-20, the ongoing feud between Twitter and the world's wealthiest man will be brought to a head in the Delaware Court of Chancery, according to a report from Bloomberg earlier today. It has been a long and winding road for Twitter since Elon Musk’s $44 billion offer was accepted by them back in April, and the saga has taken many twists and turns since then.
It has become clear that the Tesla and SpaceX CEO has decided not to buy Twitter anymore, citing a lack of clarity around Twitter's bot data. However, Twitter has been pushing through legal means to force him to complete the deal.
A judge in New York last week ruled that Twitter can move the trial forward to last October this year, though we did not know a specific date until today as Musk initially wanted to delay a trial until next February. However, Musk may be able to claim a minor victory here, given that he had asked Twitter for an October 10 start date, while Musk had sought an October 17 start date.
In its Q2 earnings report last week, Twitter disclosed that it had spent $33 million on the pending acquisition during the previous quarter, which is a figure that is only going to increase in the months leading up to the trial in February.
Source: TechCrunch