Get 40% Off
👀 👁 🧿 All eyes on Biogen, up +4,56% after posting earnings. Our AI picked it in March 2024.
Which stocks will surge next?
Unlock AI-picked Stocks

Twitter to depose Elon Musk in Delaware on Sept. 26-27

Published 09/20/2022, 10:33 AM
Updated 09/20/2022, 12:35 PM
© Reuters. FILE PHOTO: An image of Elon Musk is seen on a smartphone placed on printed Twitter logos in this picture illustration taken April 28, 2022. REUTERS/Dado Ruvic/Illustration

By Tom Hals

WILMINGTON, Del (Reuters) -Twitter Inc will question Elon Musk under oath in Delaware next week as part of the litigation in the billionaire's bid to walk away from his $44 billion deal for the social media company.

A Tuesday filing in Delaware's Court of Chancery said Musk's deposition is scheduled for Sept. 26-27 and may stretch into Sept. 28 if necessary.

The two sides are locked in an increasingly acrimonious legal battle that has swept up of some of the biggest names in Silicon Valley and Wall Street.

Subpoenas have being issued to billionaire Larry Ellison, the co-founder of Oracle Corp (NYSE:ORCL), Intel Corp (NASDAQ:INTC)'s former Chief Executive Officer Robert Swan and Twitter (NYSE:TWTR) co-founder Jack Dorsey, who is currently chief executive of Block Inc.

A five-day trial is scheduled to begin on Oct. 17 in Wilmington, Delaware.

Each side has accused the other of breaking the April takeover agreement. Twitter wants a judge to order Musk, who is chief executive of Tesla (NASDAQ:TSLA) Inc and the world's richest person, to buy the company as agreed for $54.20 per share.

Shares in San Francisco-based company were down slightly in early Tuesday trading at $41.54.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.