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Twitter’s Lawsuit Against Elon Musk to Get First Hearing on July 19 at Delaware Chancery Court

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A judge will hear arguments on Tuesday, July 19, for Twitter’s request for a September trial in its lawsuit seeking to hold Elon Musk, the world’s richest person, to his $44 billion (roughly Rs. 3.5 lakh crore) deal for the social media platform, according to a court filing.

Kathaleen McCormick, the chancellor of Delaware’s Court of Chancery, set a 90-minute hearing beginning at 11am ET (8.30pm IST) in Wilmington.

As reported earlier, Twitter has sued Musk in Delaware’s Court of Chancery in an effort to force him to complete a $44 billion takeover deal reached in April.

In other development, it was reported that the first female chief judge on Delaware’s nationally known business court will oversee Twitter’s lawsuit that seeks to hold Elon Musk to his agreement to buy the social media platform for $44 billion, according to court records.

McCormick took over the role of chancellor, or chief judge, last year after the retirement of Andre Bouchard on the Court of Chancery, a favoured venue for large corporate disputes.

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Among McCormick’s first decisions will be a request by Twitter to hold a four-day trial in September, an incredibly tight time frame for such a complicated case.

What is the lawsuit about?

Musk, the world’s richest man, pledged to pay $54.20 (roughly Rs. 4,000) a share for Twitter but now wants to back out of the agreement. He claims the company has failed to provide adequate information about the number of fake, or “spam bot,” Twitter accounts, and that it has breached its obligations under the deal by firing top managers and laying off a significant number of employees.

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Instagram Story Time Limit Increased to 60 Seconds: Report

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Instagram is reportedly increasing the time limit for Instagram Stories to 60 seconds, from the earlier limit of 15 seconds. Previously, Instagram Stories that were longer than 15 seconds would be broken up into separate segments. The social media company is said to have begun testing the change with select users towards the end of last year. Earlier this month, Instagram rolled out parental supervision tools and Family Center in India. Meta had announced the parental supervision tools and the Family Center tool back in March. The company was recently slapped with EUR 405 million (roughly Rs. 3,200 crore) fine for violating strict European Union data privacy rules.

According to a recent report by TechCrunch, Instagram confirmed that it is increasing the time limit of Instagram stories to 60 seconds from the earlier limit of 15 seconds. Previously, if a user had posted a video longer than 15 seconds, it used to get broken up into smaller segments. This made the process of uploading videos to Instagram Stories more challenging, including tagging and mentioning other users.

As mentioned earlier, Instagram is said to have begun testing the new change with select users towards the end of last year.

Earlier this month, Instagram also rolled out parental supervision tools and Family Center in India. The Family Center is a place for parents and guardians to access supervision tools and resources from leading experts. These tools will let them see the screen time spent by their kids on Instagram and impose time limits. The new parental controls are part of Meta’s attempts to protect children who actively use its social media apps.

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Instagram was recently slapped with a EUR 405 million (roughly Rs. 3,200 crore) fine for violating strict European Union data privacy rules. The Meta-owned social media platform was found mishandling the personal information of teenagers. Ireland’s Data Protection Commission’s investigation revealed that Instagram displayed the personal information of users between the age of 13 and 17 years. Instagram’s parent Meta said it disagrees with the way the fine was calculated and has expressed its desire to appeal the fine imposed by the regulator.

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Elon Musk, Twitter CEO Parag Agrawal Said to Postpone Depositions Ahead of Upcoming Trial

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Tesla CEO Elon Musk won a reprieve from questioning by Twitter lawyers Monday, according to several press reports. The billionaire had been scheduled to give a deposition in his high-stakes court fight with Twitter over whether he has to follow through with his agreement to buy the social platform for $44 billion (roughly Rs. 3,37,465 crore).

Instead, Musk’s questioning was postponed to a future date. Twitter CEO Parag Agrawal, who was also scheduled to face Musk lawyers on Monday, likewise postponed his deposition, according to a person who was briefed on the matter.

The Musk postponement was reported by Bloomberg, Reuters and the Wall Street Journal, all of which attributed the information to anonymous sources.

News of the postponements fueled a brief rally in Twitter shares, which jumped 5.4 percent to $43.03 (roughly Rs. 3,500), apparently on hopes of a settlement in the case. That enthusiasm waned later in the day. Twitter shares closed Monday at $41.58 (roughly Rs. 3,300), eight cents higher than they opened.

Court watchers said that such postponements are not unusual ahead of major pretrial hearings. A hearing on several significant pretrial motions is scheduled for Tuesday.

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Both men were expected to answer questions posed by opposing lawyers ahead of an October trial that will determine who is at fault for the seeming collapse of Musk’s Twitter bid, not to mention who owes whom large sums of money as a result. The trial is set to begin October 17 in Delaware Chancery Court, where it’s scheduled to last just five days.

Musk, the world’s richest man, agreed in April to buy Twitter and take it private, offering $54.20 (roughly Rs. 4,180) a share and vowing to loosen the company’s policing of content and to root out fake accounts. In July, he attempted to back out of the deal, leveling a number of charges at Twitter as justification for his action.

See also  Twitter Revives Misinformation Rules, Features Ahead of US Midterm Elections

Twitter subsequently sued Musk to force him to complete the acquisition.


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WhatsApp Call Links Support Rolling Out, 32-Member Group Video Call Testing Also Begins

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WhatsApp on Monday announced that it will roll out Call Links later this week.

By Gadgets 360 Staff | Updated: 26 September 2022 18:33 IST

WhatsApp Call Links Support Rolling Out, 32-Member Group Video Call Testing Also Begins

WhatsApp on Monday announced that it will roll out Call Links to allow users to start a new call or join one with a single tap. The Meta-owned messaging service will make it easier for users to share call links when the feature rolls out later this week. WhatsApp will also begin testing group video calls for up to 32 people.

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