Twitter says no objection to Elon Musk's October trial over pull out from $44 billion deal

As the saga between Elon Musk and Twitter continues, the microblogging platform has announced that it has no objection to Tesla CEO’s pull out of the $44 billion buyout trial on October 17 but the tech giant wants the proceeding to be completed within giving days, reported TRT world citing a court filing. Musk caused a stir earlier this year by proposing to buy Twitter for $44 billion. However, citing Twitter’s lack of data on fake users, the billionaire walked away from the acquisition deal triggering the website to file a lawsuit against Tesla's CEO.

Earlier, Musk had asked a judge to schedule a five-day trial beginning October 17 instead of October 10 which was requested by Twitter as both slides seek legal intervention to resolve his pull out from the $44 billion acquisition deal. As per reports, the Tesla CEO said he was writing to ask the judge to “break the impasse to allow things to move forward promptly”. 

Musk’s attorney accuses Twitter of stalling on document production 

Musk’s attorney had requested the judge to start the five-day hearing on October 17 while also accusing the website of staggering the document production in advance of the trial. His lawyers said that Twitter’s attorneys had refused to consent to the proposed trial date and were insisting on starting the hearing on October 10. Attorneys for Musk had claimed that Twitter’s proposed date of October 10 is “an obvious attempt to squeeze defendants”.

The latest developments pertaining to the start of the trial came after a Delaware Chancery Court judge agreed last week to hold the trial in a Twitter-filed lawsuit in an expedited manner. 

On July 24, Tesla's CEO on Sunday raised doubts over the company’s way of measuring its user base that the website terms “monetisable daily active users" (mDAUs). This monetisable DAU is a term for the users who log in on the website and access the platform any day through apps or on a browser. The term was used by Twitter for the first time in 2019 and said that it believes that monetisable DAU and its related growth “are the best ways to measure the success" of the website.

Image: AP