Jul 19, 2022
Twitter-Musk takeover dispute heading for October trial
A US judge has ordered that Twitter's lawsuit against Elon Musk go to trial in October, a blow to the world's richest man who had asked for a delay. Mr Musk walked away from his $44bn bid to buy Twitter earlier in July, prompting the company to sue him. At the hearing on Tuesday, Twitter's lead counsel William Savitt said the ongoing uncertainty about whether the takeover would go forward or not "Inflicts harm on Twitter everyday". A lawyer for Mr Musk, Andrew Rossman, argued that he remains one of Twitter's most significant shareholders. Since Mr Musk began questioning the number of fake and spam accounts on Twitter's platform in May, the company has seen its share prices fall from highs of $50 per share.
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