Musk and his lawyers didn’t immediately return emails on Tuesday seeking comment on the suit and whether the case can be tried on Twitter’s schedule. Musk issued a tweet on Tuesday, saying: “Oh the irony lol”.
A judge hasn’t yet been assigned to the case, but chief judge Kathaleen McCormick already has taken on investor suits over the teetering transaction. She may pick up Twitter’s suit as well. McCormick, a Delaware native, is a former legal-aid lawyer and graduate of Notre Dame Law School.
Twitter’s legal team argues it can easily show in less than a week of court time that Musk didn’t have legitimate grounds to nix the $54.20 per share buyout. Twitter shares closed at $34.06 on Tuesday.
“Litigation on the schedule Twitter proposes permits the parties and their experienced counsel ample time to assemble a trial record,” the lawyers wrote.
That would provide enough time for a judge to rule and have the Delaware Supreme Court review the ruling before the October 24 closing date for the transaction, the lawyers said.
The case is Twitter vs Musk 22-0613, Delaware chancery court (Wilmington).
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