Musk-Twitter Rollup
Update at 7:30 pm ET: Delaware Court of Chancery Judge Kathaleen McCormick granted Elon Musk's request for a stay in an order that gives the parties three weeks to negotiate and close the merger. The trial won't begin on October 17 as scheduled and would be canceled entirely if the merger closes by the end of this month. If deal talks fall apart, a trial would be scheduled for November.
[...] Musk's motion for a stay said the merger is on track to close by October 28. Twitter did not want the litigation stayed. "Plaintiff Twitter opposes the motion on the basis that Defendants' agreement will not ensure that the transaction closes fast enough," McCormick wrote.
Original story: Elon Musk today slammed Twitter for not immediately dropping its lawsuit against him and asked the judge to stay the case because "Twitter will not take yes for an answer."
[...] Musk agreed to buy Twitter in April but later tried to get out of the deal by claiming the company lied about the number of bots and spam accounts on the platform. Twitter sued Musk to force him to complete the purchase.
While Musk now accuses Twitter of "casting an unnecessary cloud of uncertainty over the company," Twitter's lawsuit against him said the company faces problems caused by Musk's public criticism and his attempts to break the merger agreement.
"Defendants' actions in derogation of the deal's consummation, and Musk's repeated disparagement of Twitter and its personnel, create uncertainty and delay that harm Twitter and its stockholders and deprive them of their bargained-for rights. They also expose Twitter to adverse effects on its business operations, employees, and stock price," Twitter's lawsuit said.
During the discovery process, Musk apparently wasn't able to obtain any substantial evidence to back up his spam claims, making it unlikely that he could win at trial.
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