According to a court filing, Twitter Inc accused Elon Musk of attempting to "slow walk" the company's case to make him accountable for his $44 billion takeover and demanded a September trial to ensure deal financing remains in place.
"Millions of Twitter shares trade daily under a cloud of Musk-created doubt," the company wrote. "No public company of this size and scale has ever had to bear these uncertainties."
Twitter has filed a lawsuit against Musk, requesting that a Delaware judge order him to finalise the merger at the agreed-upon price of $54.20 per share.
If Musk is compelled to conclude the agreement, the company claimed it might take months of more litigation to close the loan funding, which expires in April. As a result, Twitter requested that the judge reject Musk's intention to hold the trial in February.
Tesla CEO Elon Musk exits Manhattan federal court following a hearing on his SEC fraud deal.
The illustration depicts Elon Musk's visage on a smartphone as well as printed Twitter logos.
Tesla CEO Elon Musk exits Manhattan federal court following a hearing on his SEC fraud deal.
Musk, the world's richest person and CEO of electric carmaker Tesla Inc, accused Twitter of speeding the trial in order to obfuscate the facts about spam accounts and "railroad" him into buying the company. more info On Tuesday, the two parties will argue to a Delaware Court of Chancery judge regarding the trial's scheduled start date.
According to the New York Post, Musk's lawyers intend to sue Twitter in order to obtain additional information regarding spam accounts.
Twitter shares fell from more than $50 a share when the deal was announced in April to less than $33 per share last week. Twitter's shares finished at $38.41 on Monday, up 1.8 per cent.
(Source:www.economictimes.com)
"Millions of Twitter shares trade daily under a cloud of Musk-created doubt," the company wrote. "No public company of this size and scale has ever had to bear these uncertainties."
Twitter has filed a lawsuit against Musk, requesting that a Delaware judge order him to finalise the merger at the agreed-upon price of $54.20 per share.
If Musk is compelled to conclude the agreement, the company claimed it might take months of more litigation to close the loan funding, which expires in April. As a result, Twitter requested that the judge reject Musk's intention to hold the trial in February.
Tesla CEO Elon Musk exits Manhattan federal court following a hearing on his SEC fraud deal.
The illustration depicts Elon Musk's visage on a smartphone as well as printed Twitter logos.
Tesla CEO Elon Musk exits Manhattan federal court following a hearing on his SEC fraud deal.
Musk, the world's richest person and CEO of electric carmaker Tesla Inc, accused Twitter of speeding the trial in order to obfuscate the facts about spam accounts and "railroad" him into buying the company. more info On Tuesday, the two parties will argue to a Delaware Court of Chancery judge regarding the trial's scheduled start date.
According to the New York Post, Musk's lawyers intend to sue Twitter in order to obtain additional information regarding spam accounts.
Twitter shares fell from more than $50 a share when the deal was announced in April to less than $33 per share last week. Twitter's shares finished at $38.41 on Monday, up 1.8 per cent.
(Source:www.economictimes.com)
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