Representatives for the two companies faced off in court. So far, it's going well.
The trial to force Musk to close his acquisition would take place over four days. The CEO of the two companies wanted to wait until February to go to court. The showdown will take place in October instead of February. The case should be tried over five days according to the court.
The ruling is still in favor of the company over the presumptive buyer.
The case needs to be tried as soon as possible because the company is harmed every day by the dispute with Musk, according to the filing. The company said that Musk's proposed schedule was "calculated to complicate and obfuscate."
There is a cloud of doubt surrounding millions of Twitter shares. No public company of this size has ever had to deal with uncertainty.
At the hearing, Musk's lawyers argued that they needed more time to investigate the "firehose" of data that they were given in an attempt to confirm their estimates that less than 5% of daily active users are bots. In order to understand the platform's calculations, Musk's team is running millions of searches on this data.
The real issue at hand is the macroeconomic downturn, according to the team of Musk.
The deal was announced in a press release by Musk. When the market declined and the fixed-price deal became less attractive, Musk shifted his narrative, demanding verification that there was no real problem with the platform.
It doesn't make sense for the mogul to drive down the company's stock price since he is the company's second largest shareholder He publicly urged the SEC to look into the company.
It might not make sense to force Musk into buying a company that he is hostile towards. The fact remains that Musk's signed offer is too good to refuse. Musk's offer values the company at $54.20 a share, which is less than the price at which the shares are currently trading.
The story is developing.
Twitter sues Elon Musk to force him to seal the deal
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