Twitter’s Demand for a September Trial Denied!
Chancellor McCormick also denied Musk's request for a February trial ordering the parties to prepare for a five day trial in two months. Summer vacation is over...
In an ominous ruling in the Twitter vs. Musk case, Chancellor Kathaleen St. Jude McCormick delivered Elon Musk his first loss. Despite being infected by the deadly Covid-19 virus1, McCormick was quick to reject Musk’s argument2 that he needs more than two months to prepare his case against Twitter. While not granting Twitter’s demand for a September trial she ruled that a five-day trial would be held in October - much sooner than Musk’s requested February trial date.3
The New York Post reported yesterday that Elon Musk’s lawyers will be filing a counter lawsuit against Twitter by August 1st (the deadline to file counterclaims).4 Legal experts suggest that if Musk’s lawyers play their cards right the counterclaim could buy them extra time and/or additional discovery power. An analyst from Wells Fargo gave Twitter shareholders hope that they might be free from current management in a note stating, “We believe the market may still be underestimating the Court’s power/inclination to enforce [force the deal to close], as well as its broad enforcement powers.”