A Delaware judge last week gave Elon Musk until Oct. 28 to follow through on his promise to buy Twitter
“Judicial estoppel is the idea that if I stand up in court and make a statement, and then court then relies on it in making a ruling, I’m stuck with that statement,” explains Greg Varallo, a partner at law firm Bernstein Litowitz Berger & Grossmann. “I can’t say ‘I’m just kidding.’ Once a judicial officer relies on me to rule, that’s that.”
The crux of Musk’s lawsuit against Twitter is that the company made false and misleading statements about its bot and spam accounts. In convincing McCormick to grant the trial stay, he might have blocked himself from further advancing the claim, Fleming says. Notably, McCormick didn’t sign Musk’s proposed order, which gave the Tesla CEO free rein to avoid the contract “without any admission of liability and without waiver of or prejudice to claims and defenses.” The caveat might have allowed him to waive judicial estoppel, permitting him to move forward with arguments that Twitter is in violation of the merger agreement.
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