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Twitter and Elon Musk have a meeting next week… in court

  • July 15, 2022
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“I’ll talk to my lawyers about it,” “I’ll see you in court,” and the like are fairly common in certain areas, so when we hear them from a

“I’ll talk to my lawyers about it,” “I’ll see you in court,” and the like are fairly common in certain areas, so when we hear them from a celebrity or a politician, we can almost assume it’s just bragging rights and that the blood won’t reach the river. And this, added to the time to which we are accustomed to court proceedings, causes that when we hear of lawsuits we imagine them as something ethereal or at most long-term.

However things don’t work like that in delaware, the place where a large part of the buy-sell and merger contracts of companies are signed, thanks to its own regulations and the speed of processes in which it traditionally tends to always complete operations. Something that in this case plays very much in favor of Twitter, which has an interest in completing the purchase, against Elon Musk’s interests in this regard.

And as we can read in Yahoo! Finance, Twitter won’t have to wait long to take Elon Musk to courtbecause Delaware Chief Justice of Chancery Kathaleen McCormick, scheduled the first hearing for the Twitter lawsuits for July 19. In a 90-minute hearing, the judge will hear arguments related to Twitter’s request for a trial, which is expected in September.

There’s still no word on Musk’s expected suit as of this writing. Even if that doesn’t happen, however, the outcome of the Twitter lawsuit will have far-reaching consequences. If the court sided with Twitter, it could force Musk to complete the purchase or pay breakup costs associated with the deal, which could be significantly higher than the $1 billion listed in the settlement.

Source: Muy Computer

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