Updated at 10:01 am EST
Twitter (TWTR) shares jumped higher Wednesday after Elon Musk was granted a request to add whistleblower allegations in support of his disputed takeover of the social media group, but was denied an attempt to delay the mid-October trial.
Chancellor Kathaleen McCormick of the Delaware Chancery granted Musk's request following a petition by his lawyer, Alex Spiro, during a hearing late Tuesday.
Sprio had asked the court for a few weeks" to look into allegations made a former Twitter security chief, Peiter Zatko, that accused the social media group of insufficient oversight and a focus on profits that allowed spam accounts to proliferate on the micro-blogging platform.
Zatko, who is also know in the hacking community as 'Mudge', first provided details of his allegations last month to the U.S. Securities and Exchange Commission, the Department of Justice and the Federal Trade Commission.
The Tesla (TSLA) CEO was granted the right to include Zatko's allegations in his counter-suit against Twitter, which is demanding he follow-through on his early Spring promise to buy the company for around $44 billion.
However, Chancellor McCormick insisted the October 17 trial date will remain in place, suggesting any evidence from a Zatko deposition may not weigh heavily on her overall decision.
"Twitter has represented that the anticipated risk of harm has materialized over the course of this litigation," Chancellor McCormick wrote. "Twitter 'has suffered increased...
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