Here's When Elon Musk Heads To Court To Discuss Pending $44B Twitter Deal

Zinger Key Points
  • Elon Musk will be deposed on Oct. 6 and Oct. 7
  • Twitter CEO Parag Agrawal was due to answer questions Monday, but that deposition is also being rescheduled.
Here's When Elon Musk Heads To Court To Discuss Pending $44B Twitter Deal

Elon Musk will respond to questions about his attempt to back out of a $44 billion purchase of the social media platform from Twitter Inc. TWTR lawyers on Oct. 6 and Oct. 7.

According to a court document filed on Tuesday, the deposition would occur behind closed doors in Wilmington, Delaware, where the upcoming trial will be held.

The Tesla TSLA CEO was originally scheduled to sit for questioning in Delaware on Sept. 26 and 27. Twitter CEO Parag Agrawal was due to answer questions Monday, but that deposition is also being rescheduled.

A five-day trial for the lawsuit is scheduled to begin on October 17, with Kathaleen St. Jude McCormick, Chancery Judge of Delaware presiding over the case.

The deposition delays triggered a brief uptick in Twitter share price on Monday, which increased 5.4% to $43.03 in what appeared to be an expectation of a dispute resolution.
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Enthusiasm waned later in the day as Twitter's share price closed at $41.58, an increase of just eight cents over its opening price. The stock opened on Tuesday around the same levels and is currently trading at $41.86.

Musk agreed to acquire Twitter and take it private in April, offering $54.20 per share, and promised to relax the company's content policing policies and eliminate phony accounts.

He made an attempt to cancel the agreement in July, blaming Twitter for a variety of offenses in the process.

Twitter then filed a lawsuit against Musk in an attempt to make him complete the deal.

Posted In: Elon MuskKathaleen St. Jude McCormickParag AgrawalMid CapNewsSocial MediaTopicsMediaGeneral