Among Musk’s arguments for withdrawing his offer is that the company had not given correct figures on false accounts within the platform. Another of the reasons Musk presented is because Twitter fired senior executives and a third of the talent acquisition team, “in breach of the obligation to preserve substantially intact the material components of its current business organization.”
However, Bret Taylor, chairman of Twitter’s board of directors, said on his platform that he planned to take legal action to enforce the merger agreement. “Twitter’s board of directors is committed to closing the transaction at the price and terms agreed with Mr. Musk,” he wrote.
Twitter alleges that the businessman, from the beginning, has been “not very serious” with the purchase of the social network. Part of his defense is a 62-page document containing numerous memes and tweets that support his argument. It even highlights a poop emoji Musk tweeted when the social network posted his complaint to the Delaware chancery.
Why is the Musk trial taking place in Delaware?
Judges on the Delaware Court of Chancery represent most publicly traded companies in the US. For this reason, it has been ruled that the resolution of the Musk-Twitter case be in this venue, in order to define the case more quickly and analyze it.
Unlike some states, where it can take several years for a case to go to trial, Delaware tends to move faster and trials can be resolved in five to six months.
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