Elon Musk, through his lawyers, filed a motion with the Delaware Chancery Court to block Twitter’s request to speed up the process that could force the billionaire to buy the company.
Musk’s lawyers requested that Twitter’s “unjustifiable request” to rush the merger case to trial in two months be denied.
“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, ‘Musk’s filing reads.
According to Musk’s lawyers, the dispute, which relates to fake and spam accounts, is fundamental to the value of Twitter and is factual and knowledgeable, arguing that it would take considerable time and calling for a trial date of February 13, 2023 or later.
Twitter sued Musk on Tuesday for failing to comply with the agreement enshrined in the deal, but Twitter hopes to finalize the lawsuit as soon as possible and the company requested the trial start in September because the merger agreement with Musk expires on October 25.
The request by Musk’s attorneys to begin the trial on February 13 could also affect the debt financing package committed by banks towards the deal. Should the case drag on beyond April, the deal could collapse eventually.
The sources for this piece include an article in Reuters.