In case you didn’t know
In case you didn’t know
Earlier this year, Elon decided to buy the social media giant Twitter for $44 billion. Soon after the papers were signed, we started to see some leaks in the boat, as tension grew between Elon and Twitter. As the deal moved closer to completion, some issues arose. For starters, there was the short-lived sexual harassment allegation against Musk. This looked like it would stop the deal in its tracks. However, it didn’t. What really did it was the issue of the number of fake bot Twitter accounts that are on the platform. Elon really wanted to know just how many of those accounts are on the platform, but Twitter didn’t disclose that information. He wanted the number to be below 5% of the roughly 229 million daily users. Elon Musk cited Twitter’s failure to disclose this information as the reason to why he backed out of the deal. On July 8th, the billionaire submitted a document that would terminate the deal. Twitter did not take this break-up well. The company then sued Musk to force the deal to go through. Yes, Twitter is trying to force Elon Musk to buy it. It’s not only comical, it’s possible! The company hired some tough lawyers, as did Musk. Speaking of Musk’s lawyers, he and his legal team proposed that the trial be pushed all the way to February 2023. Twitter, on the other hand, wants this trial to be over as soon as possible and called for a September trial. Both sides spoke with Chancellor Kathaleen McCormick Tuesday to decide whether the trial should happen in September or February.
The Twitter trial will happen in October
The Twitter trial will happen in October
That leads us to the final decision. During the hearing, it was decided that the trial would happen sometime between both proposed trial dates. The compromise, however, was more in Twitter’s favor, as the date was pushed only one month from its proposed date. There was also a compromise with the length of the trial. Twitter originally wanted a swift four-day trial. After the hearing, however, it’s going to last five days. We’re not sure if that was at the behest of Elon’s team. An October trial doesn’t give Elon and his team much time to do what they originally planned on doing. Their plan was cut short by five months, so they’ll need to think on their feet. Regardless of when it takes place, we still don’t know what will happen with this messy trial. Twitter could have a new owner or it could not. At this point, there’s no way of knowing.
