We don’t think anymore this is the beginning of a beautiful friendship. Elon Musk could have been the sole owner of Twitter, but now both sides have taken to the court as Musk has refused to finalize the deal because of the unsolved bots issue. So while Twitter wants the lawsuit to proceed in September (before the potential deal date), Musk wants to delay it until February 2023.
It’s the violation of the deal that Twitter brings to the Delaware Chancery court as the reason for its lawsuit. What the company wants is to force Musk into finalizing the deal, so if the court sides with Twitter, the decision will probably be made within the planned schedule of the acquisition.
Musk obviously doesn’t want it. While the idea of the lawsuit seems to not scare him, it’s the haste that does. So Musk’s lawyers insist that Twitter’s request to bring the case that quickly is not justified. As Musk insists, the bot problem seriously influences the price of the shares, so concealing it was an unfair move of Twitter’s. This truth, he says, is what Twitter’s representatives will try to obfuscate or just make impossible to rate in such a short time.
As for Twitter, the company wants the proceedings to start in September. The merger agreement terminates on October 25, so Twitter wants to at least start the trial that will freeze the situation before that date. That’s exactly what Musk tries to avoid, insisting on moving the date to February. In the meanwhile, in April, the debt financing package that Musk planned to use for the Twitter acquisition will expire. So if the trial starts in February and ends after April, there will be no deal.
Will this lawsuit, currently the biggest in the Internet industry, be more influential than the Epic case? Who has better chances? And if Twitter wins, how do you think will Musk react? How will it all influence regular Twitter users, or, well, Internet users at all? Please share your opinion with us in the comments!