July 14, 2022
According to court documents, the first female chief justice of the Delaware Business Court will oversee Twitter’s lawsuit against Elon Musk. The lawsuit seeks to hold Musk to his agreement to buy the social media platform for US$44 billion.
One of McCormick’s first decisions will be a request from Twitter to hold a four-day trial in September, which many see as insufficient time frame for such a complicated case.
In the lawsuit filed Tuesday, Twitter accused Musk of a long list of violations of the merger agreement, including allegations that the billionaire decided to pull out because of a slump in Tesla’s stock price. Elon Musk is CEO of electric vehicle maker Tesla.
Announcing plans to terminate the deal, Musk accused Twitter of breaching the merger agreement by failing to disclose correct information about spam accounts on the platform.
“In short, Twitter has not provided information that Mr. Musk has requested for nearly two months notwithstanding his repeated, detailed clarifications intended to simplify Twitter’s identification, collection and disclosure of the most relevant information sought in Mr. Musk’s original requests,” the lawyers wrote on Friday.
McCormick is also overseeing a case involving Tesla shareholders who want Musk’s US$56 billion compensation package revoked by the automaker.
The sources for this piece include an article in Reuters.
