Elon Musk and Twitter CEO Parag Agrawal reportedly plan to delay depositions ahead of upcoming trial

Before the October trial trying to enforce the Twitter acquisition contract, opposing attorneys were anticipated to question Elon Musk and Parag Agrawal.


According to a number of press sources, Tesla CEO Elon Musk obtained a Monday moratorium on Twitter lawyers’ questioning. The billionaire was supposed to testify in a legal battle with Twitter over whether he must carry out his agreement to pay $44 billion for the social media site (roughly Rs. 3,37,465 crore).

Instead, Musk’s interrogation was tabled until later. According to a person who has been briefed on the situation, Twitter CEO Parag Agrawal, who was also slated to appear before Musk’s attorneys on Monday, has also postponed his deposition.

Bloomberg, Reuters, and the Wall Street Journal all reported on the Musk postponement, attributing the information to unnamed individuals.

The announcement of the delays sparked a fleeting rise in Twitter shares, which rose 5.4 percent to $43.03 (approximately Rs. 3,500) on reports of a potential settlement. Later in the day, that energy started to fade. On Monday, Twitter stock closed eight cents higher at $41.58 (approximately Rs. 3,300).

According to court observers, postponements of this nature before significant pretrial hearings are not unusual. Tuesday is set aside for a hearing on a number of major pretrial motions.

Before an October trial that will decide who is at fault for the apparent failure of Musk’s Twitter bid, as well as who owes whom enormous sums of money as a result, both men were anticipated to respond to questions posed by opposing attorneys. The trial is expected to start on October 17 and last just five days in Delaware Chancery Court.

Musk, the richest man in the world, agreed to acquire Twitter and take it private in April. He offered $54.20 (approximately Rs. 4,180) per share and promised to relax the company’s content policing policies and eliminate false accounts. He made an attempt to cancel the agreement in July, blaming Twitter for a variety of offences in the process.

Twitter then filed a lawsuit against Musk to make him complete the deal.