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Elon Musk Just Lost His Bid To Delay The Twitter Trial, Which Starts In October





Elon Musk's attempt to unwind his Twitter acquisition suffered a setback. The trial will be held in October, according to a decision made by a Delaware Chancery court today.



Elon Musk's attempt to unwind his Twitter acquisition suffered a setback. The trial will be held in October, according to a decision made by a Delaware Chancery court today. In order to allow them time to prepare, Musk's attorneys have made a plea that the trial not be accelerated and instead take place the following year.



Over the bot problem, Musk and Twitter CEO Parag Agrawal have been openly arguing. In a recent debate on Twitter, Agrawal argued that the site's techniques for identifying active users are intricate but frequently reliable.


According to Twitter, Musk is only attempting to renege on the agreement, and as robots are not mentioned within, this discussion is irrelevant. Since the contract was inked in April, Twitter's stock price has declined dramatically as a result of a general cooling of the stock market, particularly for technology businesses. Twitter's share price was about $54 at the time of the deal, but it has since dropped to about $36 (rising to $40 per share after today's court decision).


Musk made a big deal about how he thought the social network was lowering the quantity of spam and bot accounts on the platform soon after agreeing to acquire Twitter in April 2021.


The Chancery Court operates far faster than ordinary criminal or civil courts do. The court today announced that the trial will run five days instead of the four days that Twitter had sought. It's unclear what will happen: Musk could eventually have to fork up $1 billion in cancellation fees, or maybe much more. Or otherwise, he may be forced to purchase Twitter, either at the agreed-upon price or a lesser one.

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