The lawsuit relating to US billionaire Elon Musk’s decision to back out of the Twitter takeover deal on Thursday has been put on hold by US District Judge Kathleen McCormick.
When Musk on Tuesday confirmed his initial offer to purchase Twitter, things took an unexpected turn.
If Musk does not complete the $44 billion purchase of Twitter by October 28, the parties to the dispute must be ready for a new trial in November, McCormick stipulated in his ruling temporarily suspending the trial that was to begin on October 17. ”
After first expressing interest in purchasing the business, Musk withdrew his offer in April, claiming that Twitter had made untrue claims regarding the prevalence of phoney accounts on its network.
Twitter filed a lawsuit against Musk to pressure him into moving forward with the deal, and a five-day trial was set for Delaware.
Suspension of the Elon Musk v. Twitter lawsuit
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