Virtual Legality
Virtual Legality is a continuing series discussing the law, video games, software, and everything digital, hosted by Richard Hoeg, of the Hoeg Law Business Law Firm (Hoeg Law).
TRIAL'S OFF! | But is Elon Musk Buying Twitter or Playing Games? (VL723)
In this episode, Richard Hoeg discusses Team Musk's legal motion, Twitter's response to it, and the court's subsequent order. The episode concludes with an analysis of the entire situation.
Key Points
- Elon Musk's surprising decision to proceed with purchasing Twitter at the originally agreed price of $54.20 per share has led to a legal argument about whether the trial to enforce the sale is now moot.
- Twitter opposed the stay of litigation Musk's team requested, arguing that Musk's agreement does not ensure the transaction will close promptly and pointing out that Musk has yet to send a borrowing notice to banks for the necessary debt financing.
- The court decided to stay the action until 5 PM on October 28th, at which time the parties must close the transaction or contact the court to schedule a November trial date, effectively setting a firm deadline for Musk to complete the purchase of Twitter.
Chapters
| 0:00 | |
| 2:22 | |
| 21:37 | |
| 26:58 | |
| 28:23 |
Transcript
Loading transcript...
- / -