The fight with Musk is costing the company a lot.
On July 8th, Musk said he wants to abandon the deal to buy the social network.
The company said in its Q2 earnings report that it has spent $33 million on Musk's pending acquisition.
There was a 1% drop in revenue due to uncertainty caused by Musk's acquisition.
As it prepares for a legal battle with Musk, the costs will continue to increase. The aim of the lawsuit is to force Musk to follow through on his promise to buy the company.
Musk claims that he was misled about the number of fake accounts on the platform. According to Musk's lawyers, the figure is much higher than 5%.
Musk's concern over fake accounts is a smoke screen and he only wants out of the deal because his stock price has tanked.
An expedited trial was granted to minimize the "business risk" posed to the company as a result of the lawsuit.
Even if the initial judgement was in Musk's favor, he could appeal the decision for up to three years.
The law firms are going to make a lot of money.
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