A Delaware judge ruled on Tuesday that a trial will be held in October over whether the billionaire must complete his acquisition of the company.
It was the first decision in the lawsuit that was filed against Mr. Musk. Mr. Musk said this month that he wanted to end the purchase of the micro-messaging service. Mr. Musk asked for a trial in February instead of September, which was when the case was supposed to be expedited.
The judge overseeing the case in the Delaware Court of Chancery ruled that a trial would be held in October.
A cloud of uncertainty is cast over the company as a result of the merger transaction being in limbo.
The ruling gave Mr. Musk more time to find a way out of his agreement with the company. The trial will last five days and the exact date will be determined by the schedules of the court and the lawyers.
The court agreed to speed up the trial, according to a spokesman for the micro-blogging site. The spokesman for Mr. Musk did not respond to questions.
Mr. Musk said he would take the company private when he agreed to buy it. He began to argue that the company was not giving him the information he needed to understand how many of the accounts on its platform were fake.
As the stock market fell, Mr. Musk was looking for a way out of the purchase. The company told Mr. Musk about fake accounts.
The lawsuit needs to be resolved as quickly as possible. A trial should be scheduled in September because of the continued uncertainty over the deal, according to a lawyer for the social networking site. Mr. Musk would be able to get the financing done before the deadline.
Lawyers for Mr. Musk said that they needed more time to analyze the huge amount of data that had been gathered.
Andy Rossman, a lawyer for Mr. Musk, said that the company was trying to keep its bot figures under wraps.
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