Elon Musk won a court to toss out much of a Twitter shareholder's complaint over his $44 billion acquisition attempt. Delaware Chancery Judge Kathaleen St. J.
McCormick rejected the majority of Musk's July 29 lawsuit on Tuesday.
Twitter's lawsuit to compel Musk finalise the acquisition was set to begin next week
in Wilmington, but the social media firm is weighing Musk's last-minute bid to prolong the arrangement.
Luigi Crispo "hasn't sufficiently asserted third-party beneficiary standing to enforce the merger agreement," the court stated.
She dismissed a breach-of-fiduciary-duty claim. Crispo couldn't prove Musk was Twitter's majority shareholder, therefore he couldn't argue he breached legal responsibilities to other investors
That creates questions regarding Crispo's legal standing to sue over the shaky merger. McCormick let the matter continue for additional briefing.