Elon Musk-Twitter case: Delaware judge postpones trial, sets October 28 deadline to close the deal

A US judge postponed the trial between Elon Musk and the social media platform Twitter. Judge Kathaleen McCormick gave time to the two parties to close the deal until October 28.

ET Now Digital

Updated Oct 7, 2022, 07:20 IST

Elon Musk (File image)

Photo : AP

A US judge on Thursday postponed the trial between Elon Musk and the social media platform Twitter. Delaware Judge Kathaleen McCormick gave time to the two parties to close the deal until October 28.

The trial was originally scheduled to begin on October 17. McCormick said that the trial could be rescheduled for November if both the parties failed to close the deal by the October 28 deadline.

Earlier in the day, Musk asked the Judge to suspend Twitter's lawsuit over their troubled takeover negotiations. Notably, the social media company did not accept the Tesla's chief's demand to freeze the litigation.

On Monday, Musk revived his USD 44 billion takeover plan. According to reports, the Tesla CEO proposed again to buy Twitter at $54.20 a share. Notably, it was the same prize he originally offered in April before terminating the deal in July.

Also Read: Twitter to provide Elon Musk with raw daily tweet data.

"There is no need for an expedited trial to order Defendants to do what they are already doing and this action is now moot," said a filing prepared by Musk's attorneys as reported by AFP. As per the filing, Twitter had opposed a suspension on the "theoretical possibility" of a lack of financing for the transaction.

Meanwhile, the social media company on Tuesday said that it expected to close the buyout deal at the USD 54.20 price which was agreed upon in April this year. While cancelling the deal in July, Musk said that the social media firm mislead him regarding its tally of fake and spam accounts.

Latest News