Twitter’s lawsuit halted in order for Elon Musk to complete the transaction by October 28

Share via:

A Delaware judge on Thursday ordered halted Twitter Inc’s lawsuit against Elon Musk, giving the billionaire time to fund his $44 billion takeover of the social media platform.

The decision came after days of speculation about Musk’s intentions and removed the threat that the erratic entrepreneur would have to testify under oath this week about his claims that Twitter lied to him. The judge’s order stated that if Musk, the world’s richest person, did not close by her October 28 deadline of 5 p.m. EDT, she would schedule a trial for November. Twitter said in a statement, “We look forward to closing the transaction at $54.20 by October 28th.” In a previous court filing, the company urged the judge to reject Musk’s proposal, calling it “an invitation to further mischief and delay.”

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

Popular

More Like this

Twitter’s lawsuit halted in order for Elon Musk to complete the transaction by October 28

A Delaware judge on Thursday ordered halted Twitter Inc’s lawsuit against Elon Musk, giving the billionaire time to fund his $44 billion takeover of the social media platform.

The decision came after days of speculation about Musk’s intentions and removed the threat that the erratic entrepreneur would have to testify under oath this week about his claims that Twitter lied to him. The judge’s order stated that if Musk, the world’s richest person, did not close by her October 28 deadline of 5 p.m. EDT, she would schedule a trial for November. Twitter said in a statement, “We look forward to closing the transaction at $54.20 by October 28th.” In a previous court filing, the company urged the judge to reject Musk’s proposal, calling it “an invitation to further mischief and delay.”

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

Website Upgradation is going on for any glitch kindly connect at office@startupnews.fyi

More like this

Tata Communications: Tata Communications’ overseas revenues continue to outgrow...

Tata Group’s telecom, cloud and media arm Tata...

Why a16z, Lightspeed bet on this Singapore parent-tech startup

K-ID aims to streamline game onboarding for parents...

$520B state-owned Italian bank trials digital bonds on Polygon

The trial was part of an initiative set...

Popular

Upcoming Events

Startup Information that matters. Get in your inbox Daily!