The legal battle between the two sides over the termination of Tesla CEO Musk's Twitter takeover deal will take place from October 17th for five days.
Following Twitter, Musk is also filing a lawsuit, and the legal battle between the two sides is expected to intensify.
Earlier, the court notified both sides that the trial would be held in October in response to Twitter's request to expedite the litigation schedule, and confirmed the start date.
But Musk filed a lawsuit against Twitter just hours after the trial date was announced.
Musk's side filed a 164-page complaint, but details were not disclosed.
The two sides agreed on the start date of the trial, but differed in access to evidence.
Musk accused Twitter of being slow to respond to his request for investigation, and Twitter claimed that Musk was seeking large amounts of material unrelated to the incident.
Musk agreed to acquire Twitter in April for $44 billion and 57.5 trillion won, but on the 8th of this month, he announced the termination of the contract over Twitter's fake account status.
Twitter has filed a lawsuit against Musk in a Delaware state court seeking enforcement of the takeover agreement.
In this trial, the court will decide whether Musk should continue to fulfill the deal, or whether Musk can withdraw from the acquisition because it finds that Twitter has breached its contractual obligations.
The main issue in the litigation is whether fake account status is grounds for contract termination.
Twitter claims that about 5% of active users are fake accounts, but Musk has argued that the Twitter account was not credible and that it provided misinformation.
Meanwhile, Musk was also sued by a Twitter shareholder today (local time).
Luigi Crispo, who owns 5,500 Twitter shares, has demanded that Musk fulfill the deal, while insisting that Musk, the major shareholder with a 9.6% stake in the company, has also violated its fiduciary obligations to shareholders and demanded compensation for shareholder damages.