“Musk apparently believes that he, unlike any other party subject to Delaware contract law, is free to change his mind, wreck the company, disrupt its operations, destroy shareholder value,” the company was quoted as saying. They pick up from NBC News. Musk’s lawyers stated that Musk “reserved all resulting rights, including his right not to consummate the transaction and his right to terminate the merger agreement.”
Lawyers for the Tesla CEO asked the court to keep the counterclaim document confidential, which means it is not immediately available to the public. Although the reason why Musk has chosen to keep the details of the countersuit under wraps is unknown, a version of the filing is expected to be made public in the near future, according to CNBC.
trial date
Delaware Chancery Court Judge Kathaleen St. J. McCormick has set a date for the start of a trial that will seek to resolve Musk’s attempt to cancel his Twitter acquisition. According to Bloomberg, the trial is scheduled to start next October 17 and will last five days.
The timetable was determined after Musk’s lawyers tried to delay the process until 2023; while, quite the contrary, Twitter was seeking to start a trial in September.
The company reportedly claimed that Musk was taking a long time to set the schedule and threw a letter into the court file without sharing it with his opponents. The social media company was possibly looking to speed up the process as it expects to hold a special shareholders meeting on September 13 to vote on the deal.
Source: Ambito
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