Twitter-Musk takeover dispute heading for an October trial

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Elon Musk lost his fight to delay Twitter’s lawsuit against him as a Delaware judge on Tuesday set an October trial, citing the “cloud of uncertainty” over the social media company after the billionaire backed out of a deal to buy it.

“Delay threatens irreparable harm,” said Chancellor Kathaleen St. Jude McCormick, the head judge of Delaware’s Court of Chancery, which handles many high-profile business disputes.

Twitter wants the billionaire to make good on his April promise to buy the social media giant for $44 billion.

Musk, the world’s richest man, pledged to pay $54.20 a share for Twitter but now wants to back out of the agreement.

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