Elon Musk’s lawyers ask judge to call off Twitter trial

Lawyers for Elon Musk have formally requested to cancel the upcoming trial with Twitter, as the 2 sides try to negotiate a deal. In a brand new court filing, Musk’s lawyers requested the judge to call off the trial, which is at present scheduled to start October seventeenth.

Earlier this week, Musk’s camp had proposed continuing with the unique deal, to purchase Twitter at $54.20 a share, contingent on Musk’s financing going via and the adjournment of the trial. Twitter responded that it was additionally intent on closing the deal.

While that definitely appeared to put the 2 sides so much nearer to an settlement, it wasn’t a right away finish to the litigation. The New York Times has since reported that Twitter doesn’t need to call off the trial till a deal is finalized and the company’s shareholders have been paid. There are seemingly different sticking factors, too. Bloomberg reported Tuesday that “Musk is also seeking to reserve his rights to file a fraud suit over his claims the platform’s executives misled him and other investors about the number of spam and robot accounts.”

In their newest submitting, Musk’s lawyers verify the disagreement over the trial, writing that Twitter is now endangering the deal. “Twitter will not take yes for an answer,” Musk’s lawyers write. “Astonishingly, they have insisted on proceeding with this litigation, recklessly putting the deal at risk and gambling with their stockholders’ interests. Instead of allowing the parties to turn their focus to securing the Debt Financing necessary to consummate the transaction and preparing for a transition of the business, the parties will instead remain distracted by completing discovery and an unnecessary trial.”

Notably, the submitting comes on the identical day Musk was scheduled to be deposed within the case. The deposition was delayed — for the second time. Musk’s lawyers say they count on the deal might shut “on or around October 28.”

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