The Stakes Are High For Both Sides
Kathaleen McCormick, the judge overseeing Twitter Inc’s lawsuit against Elon Musk, is known as soft-spoken, approachable, and amiable, but also a person who stands her ground and advocates respect among litigants and integrity at legal conferences.
After weeks of suggestive tweets, Musk terminated the $54.20-per-Twitter share acquisition, worth $44 billion, and Twitter sued to enforce the deal. A hearing is scheduled for July 19.
Judge McCormick has a history of enforcement; she ordered a private equity firm to close its $550 million acquisition of DecoPac Holding Inc after rejecting its arguments that it could walk away due to a lack of financing.
The case has many parallels to Musk’s Twitter deal but also differences. Musk’s deal involves a publicly traded target company and might have implications for Tesla.
The judge has sided with shareholders in several cases, including preventing a poison pill anti-takeover measure and saying shareholders could sue the board for a direct stock offering.
McCormick started her career with the Legal Aid Society of Delaware and later joined Young Conaway Stargatt & Taylor. She became the first woman to lead the Delaware Court of Chancery in 2018.
For more on this story, please consider these sources:
- Why Elon Musk can’t get out of Twitter deal even if his lenders bail The Washington Post
- Judge in Twitter v. Musk made rare ruling: ordering a deal to close msnNOW
- SEC letter to Musk questions tweet about Twitter acquisition CNBC
- Opinion | Elon Musk Should Be Held to His Deal to Buy Twitter The New York Times
- After Elon Musk, where does the Twitter brand go from here? Fast Company
