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Musk Faces Deposition With Twitter Ahead Of October Trial

A trial in October will decide whether Elon Musk has to stick to his USD 44 billion agreement with Twitter after attempting to back out of the deal. Musk is scheduled to meet with Twitter lawyers over the next few days to answer questions.

PTI

Updated on: 26 September 2022 2:56 am

Elon Musk

Tesla CEO Elon Musk is scheduled to spend the next few days with lawyers for Twitter, answering questions ahead of an October trial that will determine whether he must carry through with his USD 44 billion agreement to acquire the social platform after attempting to back out of the deal.

The deposition, planned for Monday, and Tuesday and a possible extension on Wednesday, will not be public. As of Sunday evening, it was not clear whether Musk will appear in person or by video. The trial is set to begin on October 17 in Delaware Chancery Court, where it's scheduled to last just five days.

Musk, the world's richest man, agreed in April to buy Twitter and take it private, offering USD 54.20 a share and vowing to loosen the company's policing of content and root out fake accounts. Twitter shares closed Friday at USD 41.58.

Musk indicated in July that he wanted to back away from the deal, prompting Twitter to file a lawsuit to force him to carry through with the acquisition.?