The pending trial between Elon Musk and Twitter is suddenly on hold, as Judge Kathaleen McCormick granted the Musk side’s request for a stay, pending the closing of their deal for Musk to buy Twitter at $54.20 per share.
The stay was granted over the protests of twitter’s lawyers, who implored the judge not to take Musk’s words seriously. Twitter’s lawyer Kevin Shannon wrote in a letter to McCormick saying “Now, on the eve of trial, Defendants declare they intend to close after all. “Trust us,” they say, “we mean it this time,” and so they ask to be relieved from a reckoning on the merits.”
However, in a decision handed down on Thursday evening, McCormick paused the proceedings.
This action is stayed until 5 p.m. on October 28, 2022, to permit the parties to close on the transaction. If the transaction does not close by 5 p.m. on October 28, 2022, the parties are instructed to contact me by email that evening to obtain November 2022 trial dates
Here’s McCormick’s full letter with the decision: