TWTR stock is trading at $41.59 as of 01:56 PM EDT.
In the case of Twitter (NYSE:TWTR) v. Musk et al., a crucial Delaware hearing started on Tuesday afternoon. Eight legal issues are being discussed in advance of the trial, which is scheduled to begin in less than three weeks and determine what will happen with Elon Musk’s failed $44 billion purchase of the company.
Before the Wilmington, Delaware trial on October 17, where McCormick will judge if the world’s richest person had justification for rejecting his $54.20-per-share bid to purchase the social media company, Twitter had subpoenaed the texts. Musk’s primary financial advisor, Morgan Stanley, committed more than $5 billion in the financing, and Ellison also announced he would support the deal.
Twitter court documents state that Musk withheld four texts from Gorman, some of which date back to April 25, the day the business declared it had accepted Musk’s offer.
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Chancellor Kathaleen McCormick hears arguments in the Delaware Court of Chancery regarding three significant discovery motions from each side, a challenge to confidentiality redactions from Musk’s team, and Morgan Stanley’s (MS) opposition to a Twitter motion to compel the production of documents.
Last Thursday, McCormick said she would allow Musk to change his counterclaim to include information about Twitter’s (TWTR) $7.75 million severance payment to whistleblower Peiter “Mudge” Zatko. However, McCormick said she would also consider Twitter’s counter-request for additional discovery about Musk and Zatko’s early contacts, which Musk is opposing.
TWTR stock, case outlook
The hearing on Tuesday is scheduled to last a little over three hours and will discuss that topic as well as other discovery-related topics (which may not result in an immediate ruling).
As the hearing got started, the Twitter stock was unchanged for the day. The depositions of Musk and Twitter CEO Parag Agrawal, which were scheduled for Monday, will now both occur at a later time.
Featured Image – Megapixl © Ekinyalgin
Author Jowi Kwasu 
