Elon Musk, Twitter CEO delay questioning ahead of high-stakes court fight
Both men were expected to answer questions posed by opposing lawyers ahead of an October trial that will determine who is at fault for the seeming collapse of Musk's Twitter bid, not to mention who owes whom large sums of money as a result
Wilmington, Del.: Tesla CEO Elon Musk won a reprieve from questioning by Twitter lawyers Monday, according to several press reports. The billionaire had been scheduled to give a deposition in his high-stakes court fight with Twitter over whether he has to follow through with his agreement to buy the social platform for $44 billion.
Instead, Musk’s questioning was postponed to a future date. Twitter CEO Parag Agrawal, who was also scheduled to face Musk lawyers on Monday, likewise postponed his deposition, according to a person who was briefed on the matter.
The Musk postponement was reported by Bloomberg, Reuters and the Wall Street Journal, all of which attributed the information to anonymous sources.
News of the postponements fueled a brief rally in Twitter shares, which jumped 5.4 per cent to $43.03, apparently on hopes of a settlement in the case. That enthusiasm waned later in the day. Twitter shares closed Monday at $41.58, eight cents higher than they opened.
Court watchers said that such postponements are not unusual ahead of major pretrial hearings. A hearing on several significant pretrial motions is scheduled for Tuesday.
Both men were expected to answer questions posed by opposing lawyers ahead of an October trial that will determine who is at fault for the seeming collapse of Musk’s Twitter bid, not to mention who owes whom large sums of money as a result. The trial is set to begin on 17 October 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 $54.20 a share and vowing to loosen the company’s policing of content and to root out fake accounts. In July, he attempted to back out of the deal, leveling a number of charges at Twitter as justification for his action.
Twitter subsequently sued Musk to force him to complete the acquisition.
Musk shared a photo from the 12th episode of the 26th season, 'The Musk Who Fell to Earth', that seemed to allude to his purchase of Twitter
The move comes as Musk has faced pushback that his criteria for content moderation is subject to his personal whim, with reinstatements decided for certain accounts and not others
After praising Moxie Marlinspike for Signal, Elon Musk and Twitter to partner with Signal for encrypted DMs
Over the years, Twitter has kickstarted and then paused building encrypted DMs several times. But now more than ever, encrypted DMs videos and other content are a top priority for Elon Musk's vision of Twitter 2.0.