“Musk apparently believes that he, unlike any other party subject to Delaware contract law, is free to change his mind, wreck the company, disrupt its operations, destroy shareholder value,” the company said in a statement. present the case.
What could be the consequences for Musk after the trial?
The trial will take place in Delaware because the majority of companies listed on the United States stock exchange are represented in this state, which helps to act more quickly.
According to Robert Miller, who is a law professor in addition to having experience in acquisition cases and law related to the Delaware chancery court, the billionaire has potential risks if he does not comply with the purchase agreement, such as losing the power of Tesla.
And it is that the specialist explained that the powers of the court can range from formally declaring the businessman “in contempt” or even taking control of his shares in his electric car company, where most of his wealth is concentrated.
He also explained that the court can order Musk to acquire Twitter for the $44 billion or other approved amount, as well as force him to pay an additional fine.