NEW: Twitter shareholders finalize vote to approve sale to Musk ahead of trial
The shareholders met for a short meeting on Tuesday to finalize the votes. Twitter confirmed on a call that a preliminary count of the votes shows that the company has enough to approve the deal. The meeting was short and lasted only seven minutes, according to Bloomberg.While the majority of Twitter's shareholders voted in favor of the deal, its largest shareholder has not spoken yet. Musk had not voted in favor or against the deal as of Monday afternoon.
Both legal teams have been busy gathering evidence to make their case. Musk has regularly argued that Twitter breached its agreement with him through deceptive practices about the number of bots on the platform, as well as its handling of whistleblower Peiter Zatko. Meanwhile, Twitter has argued that Musk ended the deal after seeing the price of Tesla stock drop and has acted in bad faith in breaching his agreement.
Musk attempted to delay the trial by a month, only for the judge overseeing the trial in the Delaware Court of Chancery to reject the request over allegations that a one-month delay could cause irreparable harm to Twitter as a company.Zatko testified before Congress on Tuesday about Twitter's mishandling of security practices and foreign influence over the company, as well as his opinions on whether regulators had enough power to rein in Big Tech's influence.
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