Twitter Inc. TWTR co-founder Jack Dorsey will be questioned under oath on Tuesday morning by the lawyers of the company and Elon Musk via Zoom, Bloomberg said, citing a notice of deposition filed late on Monday.
What Happened: For the uninitiated, Musk and Twitter have been challenging each other legally following the Tesla Inc. TSLA CEO's decision to back out of a $44 billion deal to buy the social media platform.
Twitter subsequently opted for a legal recourse to enforce the deal and filed a lawsuit in the Delaware Chancery Court. Judge Kathaleen McCormick, who is presiding over the case, has granted Twitter’s request and ordered a five-day trial, beginning on Oct. 17.
Dorsey was subpoenaed by Musk's lawyers in late August. In the subpoena, Musk’s lawyers had asked for a set of documents including those related to the effect of spam accounts on Twitter’s business, the use of mDAU as a key metric, and business plans for analyses for achieving mDAU targets.
Reports suggest Dorsey has been urging Musk to take over Twitter in private messages. Dorsey stepped down as Twitter CEO in November to focus on his Block Inc. SQ venture, handing over the reins to India-born Parag Agrawal.
Commenting on Dorsey's deposition, Future Fund's Gary Black said, "Both sides will depose him since while Jack is friends with Elon and presumably knows where the bodies are buried, he’s highly unlikely to incriminate himself as ex-CEO of $TWTR."
Price Action: Twitter closed Monday's session at $41.66, up 0.51%, according to Benzinga Pro data.
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