Tech

Twitter and Elon Musk have an appointment next week… in court

“I’ll talk it over with my lawyers,” “I’ll see you in court,” and the like are fairly common in certain quarters, so that when we hear them from a celebrity or politician, we can almost assume they’re just bravado and that the blood will not reach the river. And this, added to the times to which judicial instances have accustomed us, cause that, when hearing about lawsuits, we imagine them as something ethereal or, at most, long-term.

Nevertheless things don’t work that way in delaware, the place where a good part of the purchase-sale and merger contracts of companies are signed, due to its own regulations and the speed of the processes, in which traditionally it tends to always tend to complete the operations. Something that, in this case, plays very much in favor of Twitter, interested in completing the purchase, against the interests of Elon Musk to back down in this regard.

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

Still no word on an expected Musk countersuit as of this writing. Even if it doesn’t materialize, however, the outcome of the Twitter lawsuit will have far-reaching implications. If the court sides with Twitter, it could force Musk to complete the purchase or pay breakup costs associated with the deal, which could be well above the $1 billion specified in the settlement.

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