The court did not accede to the request of the billionaire's lawyers.
set the date and term for consideration of Twitter's lawsuit against Elon Musk” />
The court ruled that Twitter's lawsuit against Elon Musk regarding their agreement to acquire the social network for $44 billion should be heard in October within five days, reports CNN.
The decision was made based on the results of the meeting regarding the possibility and expediency of considering the case in an accelerated mode.
Twitter's lawyers asked for a September hearing and argued that they could prove in four days that Musk should be forced to comply with the agreement and pay $54.20 per Twitter share.
Musk's legal team opposed the motion.
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Today's hearings were emotional, the publication writes. A lawyer for Twitter in favor of the expedited hearing said that “the continued uncertainty that hangs over the company due to the pending settlement and litigation is hurting Twitter every hour and every day.”
Musk's team proposed to consider the dispute in court early next year.
“We are not asking for years, instead we are offering a quick and reasonable schedule,” the billionaire's lawyers said.
In the end, the judge Kathleen St. Jude McCormey of the Delaware Chancery Court said that Musk's side “underestimates the court's ability to quickly deal with complex lawsuits” and announced a five-day trial period with the possibility of extending it if necessary.
The Chancery Court of Delaware – the state where a significant part of the US public companies are located – is known for being able to deal with the legal thickets of complex mergers and acquisitions disputes faster than other US courts. Unlike some states where it can take years to bring a case to trial, Delaware's Court of Chancery is usually faster and cases are heard within months of filing.
As previously reported, last week Twitter Lawyers sued the CEO of Tesla, the founder of SpaceX, Elon Musk.
Musk's lawyers filed a motion, which is designed to block the accelerated procedure for consideration of the case for the purchase of the Twitter service, in which representatives of the social network insisted.
Earlier, Musk informed the management of the social network that he was terminating the agreement to buy Twitter for $44 billion. Musk's lawyers said in a statement that Twitter refused to respond to multiple requests about the number of spambot accounts on the social network, which is “fundamental to the company's business performance.”
