Tesla CEO Elon Musk has until Aug. 1 to file a counterclaim against Twitter since the platform filed its lawsuit, and Musk is likely to do just that.
Sources close to the situation report that Musk’s lawyers are attempting to delay the trial in an effort to gather more information on the Twitter bots that are at the heart of the failed buyout of the platform. Twitter filed its lawsuit against Musk last week after he retracted an offer to buy the platform for $54.20 per share, or $44 billion. Musk cited Twitter’s lack of transparency surrounding Twitter bots, or fake accounts.
The Delaware Court of Chancery hosted the first hearing between Musk and Twitter on Tuesday. Chancellor Kathaleen McCormick has tested positive for COVID-19, so the hearing was virtual over Zoom.
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Twitter’s lawyers are anticipating a four-day trial in September. Meanwhile, Musk’s lawyers reportedly would like the trial to begin in February of next year. McCormick expedited the trial for October.
“The core dispute over false and spam accounts is fundamental to Twitter’s value. It is also extremely fact and expert intensive, requiring substantial time for discovery,” Musk’s lawyers wrote in a Friday filing in response to the suit. “Twitter’s sudden request for warp speed after two months of foot-dragging and obfuscation is its latest tactic to shroud the truth about spam accounts long enough to railroad defendants into closing.”
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A trial involving the platform could affect its shares and lead to a lower price per share should Musk still purchase it.
