According to a Reuters report, the first hearing in a lawsuit filed by Twitter against Tesla CEO Elon Musk is scheduled to happen at 11 AM (eastern time) on July 19th.
Chancellor of Delaware Court of Chancery, Kathaleen McCormick, ordered that the hearing would provide both sides to present their arguments in front of a judge regarding the request of the social media giant to begin the trial in September.
Twitter had earlier filed a lawsuit against Musk for backing out of a 44 billion dollar deal in which the SpaceX founder would acquire a twitter company and privatise it.
While Twitter wants to start the trial as soon as possible, Elon Musk wants to delay the trial in order to build his case.
According to details of the lawsuit, the social media company described the decision of Elon Musk to pull out of the deal as a “model of hypocrisy” and “bad faith.”
Elon Musk believes that he can freely change his mind in a contract and that Delaware Contract Law is not applicable to him, the lawsuit said.
The lawsuit filed by Twitter also claims that backing off of Elon Musk from the acquisition deal affected the company negatively as it disrupted operation and decreased the value of stocks, which resulted in shareholders suffering from his actions.
While Twitter filed a lawsuit against Elon Musk, his lawyers are of the opinion that the actions of Twitter and its board resulted in a breach of contract laws. Elon Musk also reiterated that he decided to back off the deal as twitter shared with his false data and statistics regarding the number of bots in the social networking application.
The deal was supposed to move ahead if Twitter was able to prove that bots and fake accounts on Twitter were less than 5% of its 229 million daily users.