Elon Musk faces deposition with Twitter's lawyers ahead of trial
Elon Musk
Tesla CEO Elon Musk will be answering questions from Twitter’s lawyers in the next few days ahead of the trial in October. According to Associated Press, the deposition will take place from Monday to Tuesday, and it can also continue on Wednesday in case of an extension. However, the questionsasked ahead of the trial regarding Musk’s proposed takeover of Twitter will not be made public.
Twitter decided to file a lawsuit after Musk backed out of the $44 billion takeover citing his concerns over fake users on the social media platform. While Twitter said that the number was somewhere around five per cent, Musk claimed that around 20 per cent users on the platform were bots.
While Musk has confirmed his attendance for the deposition, his team has still not made it clear whether he will be attending in person or through a video link. This will be the final time that both parties speak to one another before the trial officiallybegins at the Delaware Chancery Court.
The initial offer from Musk was to buy the Twitter shares at $54.20 each and he even announced that he will be taking the company public. Musk also expressed his wishes to alter the platform’s content rules but after claims over the fake users, he decided to back out of the negotiations.
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The trial will decide the future of the takeover as Twitter claimed that Musk needed to follow through on his promise or pay compensation for “affecting the valuation of the company”.
(With inputs from agencies)