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Business Insider
The clock is ticking for Elon Musk to buy Twitter — and he’s running out of time
Grace Kay
Tue, October 25, 2022 at 4:45 PM
The pressure is on for Elon Musk and his army of lawyers.
The billionaire has only four days to close his deal with Twitter or face a trial — which experts say he is likely to lose.
Earlier this month, the Delaware judge overseeing the court case gave the two parties until 5 p.m. ET on October 28 to agree to a new deal or the case will resume in a five-day trial in November.
Judge Kathaleen St. J. McCormick is unlikely to offer an extension and would favor a quick start for the trial if Musk misses the deadline, University of Michigan business law professor Erik Gordon told Insider.
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If the two parties don’t reach an agreement before Friday, they could technically continue to negotiate even as litigation resumes and a trial date is scheduled.
But a continued court battle is unlikely to do Musk any favors.
“He knows that he has no way out of it and would like to avoid public humiliation,” Alon-Beck told Insider.
If the trial were to proceed, Musk would face a lengthy deposition and could see even more of his private texts released to the public, Gerard Filitti, senior counsel at The Lawfare Project, an international non-profit legal think tank and litigation fund based in New York City, previously told Insider.
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For more:
https://sports.yahoo.com/clock-ticking-elon-musk-buy-084500751.html
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