Musk Faces Deposition With Twitter Ahead, Of October Trial

Tesla CEO Elon Musk is scheduled to spend the next few days with lawyers for Twitter, answering questions ahead of an October trial that will determine whether he must carry through with his USD 44 billion agreement to acquire the social platform after attempting to back out of the deal.

The deposition, planned for Monday, Tuesday and a possible extension on Wednesday, will not be public. As of Sunday evening it was not clear whether Musk will appear in person or by video. The trial is set to begin October 17 in Delaware Chancery Court, where it's scheduled to last just five days.

Musk, the world's richest man, agreed in April to buy Twitter and take it private, offering USD 54.20 a share and vowing to loosen the company's policing of content and to root out fake accounts. Twitter shares closed Friday at USD 41.58. Musk indicated in July that he wanted to back away from the deal, prompting Twitter to file a lawsuit to force him to carry through with the acquisition.

(PTI)