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Musk strikes back!

The power struggle opposing Twitter to Musk appears endless! Since Elon Musk announced his intention to purchase the social media company Twitter, various unexpected developments came in the way - complicating the smooth running of the buying process. So, what’s going on?

Before diving in the latest plot twists situation, here is a quick booster shot. Back in April, Tesla CEO Elon Musk submitted an offer to purchase Twitter for $44 billion. Yet, Musk suspended his offer weeks later, questioning the amount of fake accounts present on the social media platform. He accused the latter of jeopardizing targeted marketing campaigns. Following his inquiry relating to fake accounts, he took a step back and expressed his willingness to cancel the offer last July. As a response, the social media company retaliated and decided to take the case to court. 


Twitter condemns Elon Musk’s uncertainty of creating chaos in its latest quarterly results, of challenging trivial data, and of failing to keep his promise regarding the terms of the agreement. On July 28 - following Twitter’s complaint - Chancellor Kathaleen McCormick of the Delaware Court of Chancery called for a 5-day long trial, launching on October 17. This intends to determine whether Musk is authorized to abandon his initial $44 billion offer.


Obviously, SpaceX CEO counterattacked, confidently filing a lawsuit following Chancellor Kathaleen McCormick’s announcement. The 164-page document is not yet available, but a redacted version should be issued in the near future. In parallel, he posted the following tweet: “Much harder to make friends than enemies. My skill at the latter is improving.”, surely referring to Twitter’s move. 


If the trial is to occur on the due dates - between October 17 and October 21 - the verdict could be given before 2023. Will this be enough to bury the hatchet?