Twitter Inc will question Elon Musk under oath in Delaware next week as part of litigation in the billionaire’s bid to walk away from his $44 billion (roughly Rs. 3,51,320 crores) deal for the social media company.
A filing Tuesday in Delaware’s Court of Chancery said Musk’s deposition is scheduled for Sept. 26-27 and could stretch to Sept. 28 if necessary.
The two sides are locked in an increasingly acrimonious legal battle as some of the biggest names in Silicon Valley and Wall Street are swept up.
The subpoenas have been issued to billionaire Larry Ellison, co-founder of Oracle, former Intel CEO Robert Swan and Twitter co-founder Jack Dorsey, who is currently the CEO of Block Inc.
The five-day trial is scheduled to begin October 17 in Wilmington, Delaware.
Each side has accused the other of breaching the April acquisition agreement. Twitter wants a judge to order Musk, who is Tesla Inc’s chief executive and the world’s richest man, to agree to buy the company for $54.20 (roughly Rs. 4,300) per share.
Shares of the San Francisco-based company were trading at $41.54 (roughly Rs. 3,300) early on Tuesday.
on Tuesday, Bloomberg informed of That court filing revealed that Twitter co-founder Jack Dorsey will be removed in the company’s trial that is set to begin next month. Ever since Musk and Twitter reached an agreement, Dorsey has been supportive of the acquisition deal for the microblogging service. He was previously summoned by the Tesla CEO in August, and was scheduled to be questioned under oath by Twitter and Musk on Tuesday, according to the report.
Musk has reportedly accused the firm of hiding serious flaws in its data security. He also alleges that Twitter concealed from him that it was not complying with a 2011 settlement with the Federal Trade Commission (FTC) regarding user data, based on claims made by whistleblower and former security chief Peter Jatko. , who have also alleged that Twitter allowed access to agents from foreign governments.