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Elon Musk 'slow-walking' on lawsuit, says Twitter; Judge tests Covid+ve: Reports
Elon Musk's announcement to take over Twitter for $44 billion had created much buzz in the world of tech about 10 weeks ago.
With the corporate drama going a few notches higher, Elon Musk, the world’s richest person, has been accused of trying to “slow-walk” Twitter’s lawsuit over the termination of a $44 billion takeover deal earlier this month. The share prices have been a matter of concern for the social network - one of the most popular in the world - amid clouds of uncertainty, earlier over the deal and now over the trial.
"Millions of Twitter shares trade daily under a cloud of Musk-created doubt. No public company of this size and scale has ever had to bear these uncertainties," the social media giant said in a court filing, news agency Reuters reported.
Musk, who has now been sued, has been asked by Twitter to complete the merger at the agreed price of $54.20 per share. Both the sides are set to present their arguments to a Delaware Court of Chancery judge on Tuesday.
While the 51-year-old tech billionaire is said to have asked for postponement of trial in February, Twitter has made it clear it wants to avoid the delay.
Meanwhile, Judge Kathaleen St. J. McCormick, overseeing the lawsuit, has tested positive for COVID-19, and will be holding the Tuesday hearing via Zoom, instead of “in-person”, according to a Bloomberg report, which cited a letter that said he was “isolating this week pursuant to CDC guidelines”.
The $44 billion Twitter deal had created much buzz in the world of tech when it was sealed 10 weeks ago. But it was later cancelled over , what Musk claimed, inability of Twitter to give clarity on the exact figure of spam accounts.
(With inputs from Reuters, Bloomberg)
