Twitter Inc. will next week question Elon Musk under oath in Delaware as part of litigation in the billionaire’s bid to walk away from his $44 billion (about Rs 3,51,320 crore) deal for the social media company.
Musk’s statement is scheduled for September 26-27 and could extend until September, said a filing Tuesday in the Delaware Court of Chancery. 28 if necessary.
The two sides are locked in an increasingly acrimonious legal battle that has rattled some of the biggest names in Silicon Valley and Wall Street.
Summons have been issued to Oracle co-founder billionaire Larry Ellison, former Intel CEO Robert Swan and Twitter co-founder Jack Dorsey, who is currently the chief executive officer of Block Inc.
The five-day trial is scheduled to begin on October 17 in Wilmington, Delaware.
Both sides have accused each other of breaching the April takeover agreement. Twitter wants a judge to order Musk, the chief executive officer of Tesla Inc and the world’s richest person, to buy the company for $54.20 (about Rs 4,300) per share.
Shares of the San Francisco-based company closed with a slight decline at $ 41.54 (about Rs 3,300) in early trade on Tuesday.
on Tuesday, Bloomberg informed of That court filing revealed that Twitter co-founder Jack Dorsey would be presented in the company’s trial that is set to begin next month. Ever since Musk and Twitter reached an agreement, Dorsey has been backing the microblogging service’s acquisition deal. Reportedly, he was previously summoned by the Tesla CEO in August, and was to be questioned under oath by Twitter and Musk on Tuesday.
Musk has reportedly accused the firm of hiding serious flaws in its data security. They also allege that Twitter concealed from them that it was not complying with a 2011 agreement with the Federal Trade Commission (FTC) regarding user data, in line with claims made by whistleblower and former security chief Peter Zatko. Aadhar, who also alleged that Twitter allowed access to agents of foreign governments.