The Twitter v. Elon Musk trial has been put on hold as the two parties work to reach an agreement for Musk to complete his takeover of the social media company.
Following a motion from Musk’s lawyers to cancel the Twitter V. Elon Musk trial, Judge Kathaleen St. Jude McCormick, Chancellor of Delaware’s Chancery Court, stayed the trial until October 28th.
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The trial might resume if both side fails to reach agreement by the end of this month, “If the transaction does not close by 5 p.m. on October 28, 2022, the parties are instructed to contact me by email that evening to obtain November 2022 trial dates,” McCormick wrote.
The stay comes less than two weeks before the five-day trial, and on the same day Musk was scheduled to be deposed in the case. It’s the latest indication that Musk and Twitter are getting closer to an agreement.
Earlier this week, Musk stated that he would agree to a deal at the original price of $54.20 per share if his financing was finalized and the trial was postponed. Twitter also stated that it intended to complete the transaction on its original terms.
However, the two parties have been arguing about the specifics of the agreement ever since.
According to Bloomberg, Musk wanted a provision that would allow him to continue suing Twitter over the number of bots on the platform, while The New York Times reported that Twitter didn’t want to end the trial until its shareholders were paid.
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In their filing, Musk’s lawyers alluded to the disagreements, writing that “Twitter will not take yes for an answer,” claiming the company was jeopardizing the deal.
McCormick did not comment on the disagreement, but she did mention that Twitter has opposed Musk’s motion to stay the trial.
