Twitter’s first victory. In a preliminary hearing held in Delaware court this Tuesday, Judge Kathleen McCormick ruled in favor of the social network. The trial between the Californian company and billionaire Elon Musk will take place in October at the request of Twitter. “The defense underestimates this court’s ability to handle complex cases– emphasized the judge. “The reality is that the longer we wait, the greater the risk of irreparable damage. [pour Twitter].»
Elon Musk’s lawyers filed a complaint on Friday to delay military action until next year. They assure that experts should analyze.mountains of dataproving, as the multi-billionaire claims, that the platform is full of automated accounts and spam, far more than the officially stated 5%.
This is the reason Elon Musk gave for unilaterally terminating the contract to take over the social network, which he considers “public place“is essential”democracy“. “This topic, which Musk said will require a comprehensive review, is a contrived issue designed to complicate things and cause delays.“, argued Twitter’s lawyer William Savitt during the session. “The merger agreement doesn’t even mention bots or spam“, he insisted.
“We suspect that Mr. Musk wants to delay this trial long enough to never be held accountable. (…) He knows that in such circumstances justice delayed is often justice not done. That’s what he hopes“, he insisted.
“Not tender »
Although she is going through an image crisis after months of attacks and humiliation from her former suitor, the platform is the favorite in this showdown. “Twitter stock is in good shapesince the complaint was filed, Wedbush Securities analyst Dan Ives said. “Many investors who read it seem to have come to the conclusion that this Game of Thrones showdown in the courts will end with Twitter winning.»
from “victoryThe expert listens to the judge’s decision, which will force Elon Musk to buy the company at the price agreed upon in late April ($54.20 per share) or pay significant damages. The chances that he will get away with only paying the termination damages ($1 billion), or being declared in his own right, are considered very low.
The trial is pending before a court in Delaware, a court in this small state in the eastern United States that specializes in business law. Its president, Kathleen McCormick, the first woman to hold the position, began the matter. “He is a very serious judge who will not be intimidated by any side. (…) In the past, he was not gentle with those who showed bad faithsaid Adam Badawi, a law professor at UC Berkeley.
Delaware reputation
In its complaint, Twitter accused Elon Musk of showing “of hypocrisy“and”bad faith“. The company’s lawyers believe it has changed its mind amid the recent decline in market valuations for technology companies.
Kathleen McCormick is famous for getting the Kohlberg company, which also tried to break off the engagement, to buy the company in question, DecoPac.
The fate of Bluebird, a social network used by politicians, celebrities, activists and influencers around the world, seems to have little in common with lesser-known organizations. But “I don’t think it’s different enough for Delaware to risk its reputation by choosing not to honor the terms of the treaty.“, Adam Badavi considers.
The multi-billionaire and the board of directors could still decide to agree on a slightly lower price and thus avoid a lawsuit. “But that would be rational reasoningAdam Badawi comments on Elon Musk’s unpredictability. In another case tried in Delaware, Elon Musk.showed his will to go all the way– adds the professor. “And he won. I don’t think his instincts are necessarily conditioned.»
Source: Le Figaro
I am David Wyatt, a professional writer and journalist for Buna Times. I specialize in the world section of news coverage, where I bring to light stories and issues that affect us globally. As a graduate of Journalism, I have always had the passion to spread knowledge through writing.