Musk and Twitter postpone preliminary interrogation

WILMINGTON, Del. (AP) – Tesla CEO Elon Musk has had a truce to answer questions from Twitter lawyers, according to several reports. The businessman was to be questioned in his legal dispute with the social media company about whether to honor his commitment to acquire Twitter for $ 44 billion.

Musk’s interrogation has been updated at a later date. Twitter CEO Parag Agrawal – who was also due to address Musk’s lawyers on Monday – also postponed his deposition, according to a person briefed on the matter.

The postponement of Musk’s deposition was reported by Bloomberg, Reuters and the Wall Street Journal, who attributed the information to anonymous sources.

The news of the postponements triggered a brief rally in Twitter stock, which rose 5.4% to $ 43.03, apparently in hopes of a deal in the case. The excitement dissipated towards the end of the day and the shares closed Monday at $ 41.58, eight cents above the opening price.

Legal experts have noted that these types of referrals are not uncommon in high-profile preliminary hearings. A hearing is scheduled for Tuesday to decide on several preliminary motions.

Both men were expected to answer questions from their respective lawyers ahead of an October trial that will determine who is responsible for the apparent failure of the transaction, not to mention who owes whom a huge amount of money as a result. The trial is expected to begin on October 17 at the Delaware Court of Chancery, where it is expected to last only five days.

In April, the richest man in the world agreed to buy Twitter, with an offer of $ 54.20 per share and a promise to relax the company’s content policies and crack down on fake accounts. In July, he tried to back out of the deal, filing several charges against Twitter to justify his actions.

Later, Twitter filed a lawsuit against Musk to force him to complete the transaction.

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