31.1 C
Delhi
Monday, September 26, 2022

US Welcomes Belarus Release of Journalist, Urges More

https://ift.tt/QmutEJF United States on Sunday welcomed the...

US Spy Satellite Launched into Orbit from California

https://ift.tt/NEtSzWd classified satellite for the U.S. National...

Tropical Storm Ian Strengthens as it Heads to Cuba, Florida

https://ift.tt/r0qMwPn and residents in Florida were keeping...

Twitter Accepts Oct. 17 Trial but Is Concerned Musk Will Try to Delay

 Twitter Inc. does not object to Elon Musk’s proposal to start a trial on October 17 over Musk’s bid to walk away from his $44 billion acquisition deal but the social media company wants a commitment to complete the trial in five days, Twitter said in a court filing on Wednesday. 

Musk has said he needs time to complete a thorough investigation of what he says is Twitter’s misrepresentation of fake accounts, which he said breached their deal terms. 

He originally sought a February trial, but on Tuesday proposed an October 17 trial after a judge ruled the proceeding was to start in three months. 

Twitter has called the fake accounts a distraction and pushed for the trial to hold Musk to the deal to start as soon as possible, arguing that delay damages its business. It said in its court filing that Musk had offered no assurance a trial would be completed in five days, as ordered by the judge, Kathaleen McCormick of the Delaware Court of Chancery. 

“Twitter sought that commitment because it believes Musk’s objective remains to delay trial, render impracticable the Court’s expedition order, and thus avoid adjudication of his contractual obligations,” said the Twitter filing. 

Attorneys for Musk, the world’s richest person and chief executive of electric car maker Tesla Inc, did not respond to requests for comment. 

Twitter also dismissed Musk’s claims that the company was dragging its feet in responding to his demands for documents. 

Twitter said Musk is the one holding up the process by refusing to answer the company’s complaint, which it said would clarify the issues and any counterclaims he may assert. 

Shares of Twitter closed up 1.3% at $39.85 on Wednesday. 

Musk agreed to acquire the company for $54.20 a share. 

July 28, 2022 at 08:22AM

from Technology – Voice of America https://ift.tt/pnmN4aU https://ift.tt/wzod1fl
Source VOA

Support Us

Secured by Paypal

Related Stories

Check out other tags:

Most Popular Articles