Elon Musk, Parag Agrawal Said to Delay Questioning Ahead of Upcoming Trial

Tesla CEO Elon Musk received a reprieve from questioning by Twitter attorneys Monday, in keeping with a number of press stories. The billionaire had been scheduled to provide a deposition in his high-stakes court docket struggle with Twitter over whether or not he has to observe by means of together with his settlement to purchase the social platform for $44 billion (roughly Rs. 3,37,465 crore).

Instead, Musk’s questioning was postponed to a future date. Twitter CEO Parag Agrawal, who was additionally scheduled to face Musk attorneys on Monday, likewise postponed his deposition, in keeping with an individual who was briefed on the matter.

The Musk postponement was reported by Bloomberg, Reuters and the Wall Street Journal, all of which attributed the knowledge to nameless sources.

News of the postponements fueled a quick rally in Twitter shares, which jumped 5.4 p.c to $43.03 (roughly Rs. 3,500), apparently on hopes of a settlement within the case. That enthusiasm waned later within the day. Twitter shares closed Monday at $41.58 (roughly Rs. 3,300), eight cents increased than they opened.

Court watchers stated that such postponements usually are not uncommon forward of main pretrial hearings. A listening to on a number of vital pretrial motions is scheduled for Tuesday.

Both males have been anticipated to reply questions posed by opposing attorneys forward of an October trial that may decide who’s at fault for the seeming collapse of Musk’s Twitter bid, to not point out who owes whom massive sums of cash in consequence. The trial is about to start October 17 in Delaware Chancery Court, the place it is scheduled to final simply 5 days.

Musk, the world’s richest man, agreed in April to purchase Twitter and take it personal, providing $54.20 (roughly Rs. 4,180) a share and vowing to loosen the corporate’s policing of content material and to root out pretend accounts. In July, he tried to again out of the deal, leveling a variety of prices at Twitter as justification for his motion.

Twitter subsequently sued Musk to drive him to finish the acquisition.