Postponed By Judge
Twitter's lawyers reacted against Tesla CEO Elon Musk in a court filing Thursday, accusing him of "mischief and delay" with his renewed bid for the company.
Twitter rejected Musk's $44 billion new offer. The claim was made in a court document challenging Musk's Thursday demand to halt legal proceedings in the failed merger proposal.
The case was scheduled to go to trial in Delaware Chancery Court on October 17, but following Twitter's submission on Thursday, the judge agreed to postpone the trial until Oct. 28.
The latest twist in the roller coaster story came as Musk and Twitter traded letters Thursday about whether Musk can buy the struggling social media company.
While Twitter affirmed that it planned to conclude the agreement, talks deteriorated on Thursday after the business opposed to Musk's request to terminate the trial.
In its recent filing, Twitter objected to Musk's lawyers' offers for an indefinite period to consummate the deal and a conditional retraction of his July 8 termination.
His legal team said the deal's finance is set. Twitter stated a bank representative indicated one of Musk's lenders hasn't received what they need from him to close the deal.
Twitter said Musk broke the contract by not using his "best endeavours" to finalise the deal. Because of Musk's delays, shareholders are owing $44 billion in interest.
Musk's lawyers stated, "Twitter won't accept yes for an answer." "They are gambling with their stockholders' interests by irresponsibly advancing with this litigation."