Twitter vs. Musk Still On? Delaware Court Sends Letter Saying Parties Haven't Filed Anything

[LetMyPeopleVote]

Last edited Thu Oct 6, 2022, 02:02 AM - Edit history (1)

The trial is still scheduled

Link to tweet

https://www.mediaite.com/news/twitter-vs-musk-still-on-delaware-court-sends-letter-saying-parties-havent-filed-anything-so-will-press-on-toward-our-trial/

Twitter, Inc. v. Elon R. Musk, one of the most famous cases ever to wander into the great state of Delaware, may get its day in court after all. Despite Tuesday’s bombshell news that Elon Musk was willing to buy the social media giant for his original offer price, neither Musk nor Twitter have seen fit to take any legal steps to stop the trial scheduled to begin on Oct. 17.

Musk originally offered to buy Twitter for $44 billion, or $54.20 per share, but then attempted to back out of the deal, blaming undisclosed bots and other issues, and the whole thing ended up in the Delaware Chancery Court after Twitter filed suit under the terms of the acquisition agreement. Musk’s prospects for success had been looking increasingly grim according to many legal observers, but he had seemed stubbornly insistent on holding his ground.

Then, one day after he sparked an international diplomatic kerfuffle with his tweets about the war in Ukraine — even getting schooled by Ukrainian President Volodymyr Zelenskyy himself — Musk inexplicably sent a letter to Twitter Tuesday saying he was now willing to honor the original deal.

But there’s still the matter of actually gathering up $44 billion in funding from outside investors and spare change from the floorboard of his Tesla, to be able to fulfill his legal obligations under the acquisition agreement.