Elon Musk has now sold an additional 7,924,107 shares of Tesla worth about $6.9 billion, after saying in April that he did not plan any more sales after selling $8.4 billion worth of shares. According to Musk, the reason for the latest sale is to avoid an emergency sale of shares if it were to happen that he is required to buy the Twitter platform.
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The trial between Twitter and Elon Musk will be held in October
A small win for Twitter
During Tuesday evening, we received a message from the court in Delaware, which now says that the trial between Twitter and Elon Musk will be held in October. A small win for Twitter who actually wanted the trial to be held in September, Elon Musk wanted to wait until February. Musk agreed to buy Twitter for $44 billion in April but then appeared to get cold feet about the deal. Despite having passed the stage of doing “due diligence” or research on the company he was planning to acquire, he suddenly started claiming that the company had a problem with bots. Kathaleen McCormick, from Twitter’s team argued that Musk’s spam account argument was a bad faith attempt to back out of the deal due to regrets about the purchase. The trial will last five days, which is longer than Twitter asked for but shorter than Musk wants. The exact dates are not yet scheduled.
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