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Elon Musk's Twitter deposition rescheduled for October 6-7

Elon Musk's Twitter deposition rescheduled for October 6-7

 Tesla CEO, Elon Musk, is scheduled to be questioned under oath by Twitter Inc lawyers on October 6-7, according to a Tuesday court filing.

The company prepares for a trial next month over Musk’s bid to walk away from a $44 billion takeover deal. Elon Musk and the social media giant are conducting dozens of depositions and reviewing thousands of documents for the five-day trial starting October 17 in Wilmington, Delaware.

Musk's deposition was originally scheduled for this week. However, the sources close to the litigation said that the timing of the interview was always subject to change because of the fast-tracked nature of the litigation. Reportedly, Musk's deposition is expected to be a key part of the litigation. Twitter's legal team is expected to show that Musk abandoned the deal due to falling financial markets.

In the Elon Musk vs Twitter buyout battle, Twitter wants McCormick to order Musk to close the deal at the agreed price of $54.20 per share. The Tesla owner and billionaire made a hostile bid to take over Twitter at $54.20 per share. However, he backed away from the deal and blamed Twitter for breaching the agreement by misrepresenting the number of fake accounts on the micro-blogging site. However, Twitter said that Musk’s skepticism over spam accounts tally was a distraction to walk away from the deal due to falling financial markets. Twitter also argued that delay can damage its business. According to Twitter, Musk reportedly backed away from the deal because the stocks of Twitter tumbled, and the value had fallen below the $54.20 per share that Musk offered. 

Musk’s legal team has repeatedly told the Delaware Chancery Court that Musk wanted correct details about spam accounts on Twitter. On the other hand, Twitter wanted a commitment from Musk to complete the trial in five days.


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