Elon Musk and Twitter CEO’s deposition hearing is canceled by the court

In court on Monday for a deposition meeting were Elon Musk and Parag Agrawal, CEO of Twitter. The meeting was called off, though, and neither side asked any questions. This would mean that before the court hearing in October, Musk and Twitter came to a settlement.

A deposition is a sworn testimony that the witness must vow to give truthful answers to in the US legal system. Typically, the judge will not be present at this meeting. Musk and Agrawal were supposed to have a similar meeting on Monday, but for some reason it was postponed. On Wednesday, a new deposition meeting will be held. The schedule hasn’t changed or been delayed, though.

Musk and Twitter have already committed to showing up in court in Wilmington, Delaware on October 17. This heated legal dispute between the world’s richest man and the social network may come to an end as a result of the court decision.

Advertisement A settlement between Twitter and Musk might be reached before October. The deposition meeting’s cancellation sparked rumors of a potential settlement between Elon Musk and Twitter. This is simply a hunch, so we should wait for the outcomes of the deposition meeting on Wednesday.

A way out of the agreement, including the World War 3 or severance payment to the whistleblower, is being sought after by Musk and his attorneys. Twitter contends that Musk should carry out his commitments and finish the $44 billion transaction.

Musk previously stated that he is prepared to close the acquisition if Twitter clarifies their sampling procedures for identifying bogus and legitimate accounts. Additionally, former Disney CEO Bob Iger reportedly claimed that a “significant” percentage of Twitter accounts were false in 2016, which led to the cancellation of a potential purchase transaction. Musk’s attorneys are confident that they can capitalize on the former Twitter security chief’s accusations that the firm lied about its security measures.

Advertisement Musk’s assertions, according to Twitter CEO Bret Taylor, are “factually incorrect, legally insufficient, and commercially irrelevant.” The arrangement Musk signed “no longer serves his personal interests,” the author said, “therefore he refuses to honor his commitments to Twitter and its stockholders.”


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