Court favors Twitter for expedited trial on Musk’s termination of $44B takeover deal, trial to begin in October

Delaware Court of Chancery Chancellor Kathaleen McCormick ruled in favor of Twitter Inc (NYSE: TWTR) on Tuesday for an expedited trial to force Elon Musk to complete his $44 billion acquisition of the company.

Twitter’s lawyer, Bill Savitt of the law firm Wachtell, Lipton, Rosen & Katz, during the hearing, argued that the social media company’s request for a September trial was well in line with the timelines for similar cases in the past, to which the court said the five-day trial will take place in October.

Savitt added that an expedited trial schedule is imperative to stop the ongoing harm that Twitter has faced from the uncertainty from the termination of the acquisition deal and alleged disparagement by Musk.

He also alleged the billionaire attempted to delay the trial to “run out the clock” by leaving little time for appeals before the debt commitments, which Musk made to finance the deal, expire.