Court stays trial in Twitter-Elon Musk case, Musk will have to do this work by October 28

Elon Musk Twitter Deal: A US judge has stayed the trial in the Twitter-Elon Musk case. This ban is till 28 October. Both sides are considering how to execute the $44 billion acquisition deal. Judge Kathleen McCormick in the Delaware Chancery Court in the US said that “proceedings have been adjourned until 5 p.m. on October 28, 2022, to allow the parties to settle the matter.”

Got time till October 28 to resolve the matter
Delivering the verdict late yesterday, he said, “If the matter is not resolved by 5 pm on October 28, 2022, the parties will have to contact the trial by email in November 2022.” Elon Musk’s lawyers said that “Twitter will not say yes to an answer. Surprisingly, they have insisted on pursuing this lawsuit, negligently putting the deal at risk and gambled with the interests of its shareholders.” Is.”

What is the meaning of the court’s direction
The meaning of this information is that the ongoing dispute between Twitter and Elon Musk is probably moving towards a halt. A US Delaware court has given Musk until 5 pm on October 28 to complete the $44 billion deal with Twitter. In this case, the trial has been put on hold for the time being for the purpose of completing the deal.

Elon Musk recently took a U-turn again
Tesla CEO Elon Musk has reportedly again offered to buy Twitter for $54.20 a share, the same price he originally proposed before closing a $44 billion acquisition deal in April this year. Twitter has received a letter from Musk asking him to move forward with his original deal of $54.20 per share (or $44 billion). In a new filing with the US Securities and Exchange Commission (SEC), Musk’s legal team has also asked the court to adjourn the trial and all other proceedings.

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