Twitter inflicts on Elon Musk his first defeat in court

Twitter has gotten away with it. The Delaware court in charge of the lawsuit that pits the social network against Elon Musk has agreed to the company’s request and has granted a quick trial in which the future of the company will be decided. It will start next month october.

The decision, indeed, is a blow to Musk who, after agreeing to pay 41,000 million euros last April to take control of the social network, communicated a few weeks ago his decision to break the deal due to the alleged lack of transparency of the platform on the number of false accounts and spam bots that operate within it.

Musk and his lawyers wanted to delay the start of the trial in order to collect more information about the work of Twitter when it comes to controlling fake accounts on the platform, as reported by several US media in recent days. He also stated that the agreement he reached with different banks to finance the purchase of the application does not expire until April 2023, so that, if necessary, the necessary funds for the acquisition of the social network would continue to be within his reach. .

The social network, for its part, hoped that the start of the trial would be established as soon as possible. Specifically, the platform expected to start mid september. In its allegations, the platform social network drew attention to the damage that leaving the operation in limbo for too long would cause the company and investors.

“The reality is that the delay threatens irreparable damage to sellers,” said Kathaleen McCormick, the Delaware Court judge in charge of the case. Furthermore, she established that the judgment will last for five daysalthough these are still to be decided by the parties.

It should be remembered that the price of Twitter shares has suffered several setbacks in recent weeks due to the comings and goings of the agreement and the doubts shown by the tycoon regarding the work of the site to stay clean.

In this way, if at the time of the agreement the share of the social network was above 50 dollars; today it is in the 39. Very far from the money that, at the time, Musk promised to pay to achieve total control of the company.