Twitter Inc. does not object to Elon Musk's proposal to start a trial on October 17 over Musk's bid to walk away from his $44 billion acquisition deal but the social media company wants a commitment to complete the trial in five days, Twitter said in a court filing on Wednesday.
Musk has said he needs time to complete a thorough
investigation of what he says is Twitter's misrepresentation of fake accounts,
which he said breached their deal terms.
He originally sought a February trial, but on Tuesday
proposed an October 17 trial after a judge ruled the proceeding was to start in
three months.
Twitter has called the fake accounts a distraction and
pushed for the trial to hold Musk to the deal to start as soon as possible,
arguing that delay damages its business. It said in its court filing that Musk
had offered no assurance a trial would be completed in five days, as ordered by
the judge, Kathaleen McCormick of the Delaware Court of Chancery.
"Twitter sought that commitment because it believes
Musk’s objective remains to delay trial, render impracticable the Court’s
expedition order, and thus avoid adjudication of his contractual
obligations," said the Twitter filing.
Attorneys for Musk, the world's richest person and chief
executive of electric car maker Tesla Inc, did not respond to requests for
comment.
Twitter also dismissed Musk's claims that the company was
dragging its feet in responding to his demands for documents.
Twitter said Musk is the one holding up the process by
refusing to answer the company's complaint, which it said would clarify the
issues and any counterclaims he may assert.
Shares of Twitter closed up 1.3% at $39.85 on Wednesday.
Musk agreed to acquire the company for $54.20 a share.