“I think settling is not necessarily his instinct.The capstan lathe was made by Alfred Herbert Limited in January, 1935, for the continental market. “Musk has shown his willingness to take things all the way to the end in Delaware court,” said Badawi, the Berkeley law professor.
Tuesday’s hearing was just the first step in what could be a lengthy legal fight that could end in a trial, but also a settlement. He also noted that less likely options include Musk paying a US$1 billion break-up fee and being able to walk away, or winning outright on his fake account argument. “Wall Street and legal experts across the board view Twitter as having a ‘strong iron fist upper hand’, heading into the Delaware court battle after months of this fiasco and nightmare,” analyst Dan Ives wrote last week. She also reportedly has the distinction of previously ordering a reluctant buyer into completing a corporate merger.Ī forced closing of the Twitter deal is a scenario that some analysts consider possible. McCormick, who ran the hearing remotely after she tested positive for Covid-19, comes with a no-nonsense reputation. So this is the place to go,” said Carl Tobias, a University of Richmond law professor. “The chancery court, which handles most of these matters, is very expert in corporate law, and more particularly, mergers and acquisitions. The firm is incorporated in the tiny state like scores of other companies, and the case will be heard in the Delaware Chancery Court, which has deep experience in business disputes. Rather than Silicon Valley, where Twitter is based, the company has lodged its lawsuit against Musk in Delaware. The world’s richest person has backed away from the deal in recent months as tech stocks have tumbled, and Twitter’s value has fallen well below the US$54.20 per share he offered.
The social network’s lawyers had asked for a September date, just months after Musk launched a bid that the company’s board initially resisted but then supported. She didn’t give them exactly what they wanted, but she gave them a pretty speedy trial,” said Adam Badawi, a University of California at Berkeley law professor. “I think it was pretty favorable for Twitter.
Judge william s dato trial#
Twitter has argued his claims are simply an effort by him to back out of the deal, and its lawyer William Savitt said: “The continued uncertainty caused by Musk’s purported termination inflicts harm on Twitter every day, every hour of every day.”Įxperts watching the trial saw the relatively rapid timeline as a triumph for the social network, which is limping along, while the buyout endgame remains unclear. “The real issue here is what’s the percentage of real users on the Twitter platform versus spam or false accounts,” he added.Īfter pausing the deal in May, Musk moved in early July to “terminate” his unsolicited buyout bid after he accused the platform of misleading him on the number of its so-called “bot” accounts, and not being forthcoming with details. “Billions of actions on their platform have to be analysed in order for us to get to the bottom of the real issue,” said Musk’s lawyer Andrew Rossman. Musk’s team argued fiercely against a relatively quick date, saying the core issues are simply too complex. Judge Kathaleen McCormick, who set a five-day trial and left the sides to work with the court to fix the exact date, noted that the “risk of irreparable harm” generally grows the longer a merger remains in limbo. Musk’s lawyers had pushed for a February 2023 date, but the court in the eastern US state of Delaware hewed closely to the uncertainty-wracked platform’s desire for speed and set an October start.īillions of dollars are at stake, but so is the future of Twitter, which Musk has said should allow any legal speech – an absolutist position that has sparked fears the network could be used to incite violence.
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