Is there a deal between Musk and Twitter? Excessive-profile depositions had been canceled Monday | Tech Ology

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For these of you who’ve by no means seen a present about the US authorized system like Los Angeles Legislation (Since when did Laurie Partridge turn out to be a lawyer?), or has by no means been sued, a deposition is the sworn testimony of a witness outdoors the courtroom. There’s normally no choose, however the witness is sworn in and should reply questions honestly beneath penalty of perjury.

Elon Musk faces deposition this week from Twitter attorneys

This week, the world’s richest man, Elon Musk, will face a plea as a defendant within the Twitter lawsuit that accuses Musk of backing out of his $44 billion bid to purchase Twitter at $54.20 a share. After all, the billionaire, co-founder and CEO of Tesla feels that he was inside his rights to interrupt the deal as a result of Twitter could not show to Musk that pretend accounts make up lower than 5% of the whole Twitter depend. accounts

Musk is countersuing Twitter, though this week’s assertion has to do with Twitter’s unique lawsuit. The interrogation was imagined to have began on Monday, though sources with information of the proceedings mentioned Reuters that Musk was not requested any questions on Monday. The deposition is scheduled for Wednesday, although it isn’t identified if there will likely be a change to that schedule or why there was a delay.
Musk seeks to launch himself from any obligation he could need to Twitter with out paying any penalties. Twitter needs the court docket to pressure Musk to finish his buy of the corporate. At $41.51 in after-hours buying and selling Monday, Twitter shares closed $12.69, or 23.4% beneath the value Musk mentioned he would pay for the corporate.

Musk’s deposition is only one of a number of scheduled earlier than a five-day trial begins on October 17 in Wilmington, Delaware. He has a status for being combative with opposing attorneys throughout questioning. Twitter CEO Parag Agrawal is among the Twitter executives to be deposed. His deposition was additionally imagined to happen on Monday and was additionally delayed. Suspending such high-profile statements on the identical day might be an indication that an settlement has been reached between the 2 sides, though generally delayed statements are merely delayed statements.

Twitter co-founder and former CEO Jack Dorsey was imagined to have been the topic of an announcement final week. In earlier remarks, Musk has accused opposition attorneys of “dishonest” and complained that he was being sued merely due to his internet value.

Disney’s 2016 due diligence for a attainable Twitter buyout matches what Musk’s workforce has found

Twitter president Bret Taylor says of Musk that “his claims are factually inaccurate, legally inadequate and commercially irrelevant.” In his court docket papers, Twitter mentioned: “Musk is refusing to meet his obligations to Twitter and his shareholders as a result of the settlement he signed now not serves his private pursuits.”

Former Disney CEO Bob Iger backs up Elon’s claims about numerous pretend Twitter accounts. Earlier this month, Iger revealed that Disney was contemplating shopping for Twitter in 2016. However Iger mentioned Disney’s evaluation led him to again out of constructing a bid for Twitter; The previous CEO of the Burbank-based leisure large mentioned Disney’s due diligence helped him uncover {that a} “substantial” variety of Twitter accounts had been pretend.

Musk responded to Iger’s tweets concerning the pretend Twitter accounts found by Disney by responding to the previous Disney boss’s feedback with a single phrase saying, “Fascinating.”


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Is there a deal between Musk and Twitter? High-profile depositions were canceled Monday

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