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Twitter stock spikes after judge rejects Elon Musk's request to delay his Twitter trial
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Twitter's stock price spiked 4.2% Wednesday after a judge in Delaware rejected billionaire Elon Musk's request to delay a trial over his potential purchase of the company.
Musk had requested a delay at the end of August after a whistleblower at Twitter claimed the company made false claims about its security capabilities. Twitter is suing Musk to force him to follow through on his offer to purchase the company for $44 billion.
Lawyers for Musk and Twitter will open their arguments in the Delaware Court of Chancery on Oct. 17.
Musk has sought to back out of his original offer to buy Twitter at $54.20 per share, arguing the company misrepresented how many spam accounts were active on its platform. Twitter states that spam and bots make up less than five percent of its users.
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