Elon Musk's lawyers ask to postpone the case of the deal with Twitter
Elon Musk's lawyers asked the Chancery Court of Delaware not to accept the statement of Twitter lawyers insisting that the case be considered within a week. According to preliminary information, the case will be considered on July 19. Judge Kathleen McCormick, who is leading the proceedings in the dispute between Elon Musk and Twitter, is known for forcing the defendants to fulfill previously concluded deals.
Why are Musk's lawyers asking the judge not to consider the case so quickly
The official reason is that lawyers want to understand whether Twitter really buys bots in large numbers or not. According to the billionaire's defenders, this is what needs to be found out before proceeding to consider the issue on its merits. They want the case to begin consideration on February 13, 2023. During this period of time, lawyers hope to receive relevant information from Twitter.
In turn, Twitter representatives insist that the lawsuit be considered within the next week. They want Elon Musk to fulfill the terms of the previously concluded deal and buy shares of the company for $ 44 billion. Moreover, at a price of $ 54.20 per 1 share, and not at what it is now - below $ 38 per unit. Twitter did not approach the estimated quotes back in 2022, demonstrating the maximum price from the beginning of the year on April 25 at $ 51.7 per unit.
Will the judge consider Twitter's lawsuit in an accelerated mode
A hearing on this issue will be held on July 19. It is on this day that the judge will decide whether the company's claim will be considered within 5 days or will agree with the request of Musk's lawyers. Guessing about what decision she will make is pointless now. If Kathleen McCormick starts considering the case, as Twitter's lawyers are asking, she will most likely decide in favor of the company. In this case, Elon Musk will be forced to buy the platform for $ 44 billion.
If the hearings begin in 2023, there is a chance that Musk will still be able to avoid buying the most popular social network. Although this does not mean that even then the judge will rule in favor of Elon. In the end, everything will depend on the evidence presented by both sides in this trial.
Author: Dan, analyst Сoin-signal.com Club
https://coin-signal.com/cryptonews/elon-musks-lawyers-ask-to-postpone-the-case-of-the-deal-with-twitter/
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