Elon Musk Files Suit against Twitter

On Friday, Elon Musk filed a suit against Twitter to mark a new escalation in the dispute between the businessman and the leading social media company over Musk's surrender of his $44 billion bid to take over the platform.

The 164-page document was filed after Delaware Court revealed that the beginning of the trial will be on 17 October.

On the same day, Tesla's chief was sued by one of Twitter's shareholders who requested the court's assist to make the billionaire to close the deal.

It is worthy to mention that Twitter recorded a $270 million loss on Friday after its revenues fell by 1% in the second quarter of 2022 to reach $1.8 billion.

The loss of the platform came despite the rise in users by 16.6% as the performance of the platform was somehow impacted by the long negotiations between the company and Tesla CEO Elon Musk.

Early this week, Twitter gained an early victory in its legal battle with SpaceX and Tesla CEO Elon Musk as a Delaware judge scheduled the trial in October.

Musk previously asked the court to delay the trial to begin in February 2023, unlike the leading social media platform which asked for a near trial.

Chancellor Kathaleen McCormick of the Court of Chancery in Delaware decided to set the trial in October.

McCormick said: “The reality is a delay threatens irreparable harm to the sellers,” she said of the public company. “The longer the delay, the greater the risk.”