To which Musk responded with the poop emoji.
Twitter argues that Musk is just trying to get out of the deal, and there is no mention of bots in the deal, so they are beside the point. Twitter’s share price has fallen significantly since the deal was signed in April, as part of a general stock market chill, especially for tech companies. At the time of the deal, Twitter shares were hovering around $54, but have gradually dropped to around $36 (up to $40 a share after news of today’s court ruling).
The Delaware Court of Chancery is different than a regular criminal or civil court in that it tends to move rather quickly. Twitter requested a four-day trial, but the judge said today that the trial will last five days. It’s unclear what will happen: Musk may end up being forced to pay the $1 billion fee to cancel the deal, or perhaps an even higher fee. Or he could be forced to buy Twitter, either at the agreed price or somewhat lower.
Or, of course, since he’s Elon Musk, he could just… do whatever.