The trial between Twitter and Elon Musk is still set to go ahead
The trial between Twitter and Elon Musk is set to go ahead, in a strange series of events. This comes despite Musk’s recent change of heart over the deal to buy the social media platform
Delaware Court judge Kathaleen McCormick says neither party has applied for a “stay” in the action. Now, proceedings are still due to begin on October 17.
This comes a day Musk performed a U-turn, deciding to go ahead with the multi-billion dollar deal to buy the social media giant.
Musk’s lawyer says his client has “reconsidered his position” and is now “committed to completing the transaction.”
The transaction values Twitter at $54.20 per share, bringing the total sale price to around 44 billion.
The trial was scheduled to run over five days with Twitter arguing the Tesla CEO should be required to complete the transaction.
Musk launched a counterclaim, alleging the company suffered a substantial reduction in its value, rendering the deal invalid.
