Social Media

Musk, Twitter CEO Delay Questioning Ahead Of October Trial

Both sides have postponed their depositions ahead of an October trial that will decide who's at fault for the collapse of Musk's bid to buy Twitter.

Tesla and SpaceX CEO Elon Musk.
Ringo H.W. Chiu / AP

Tesla CEO Elon Musk won a reprieve from questioning by Twitter lawyers Monday, according to several press reports. The billionaire had been scheduled to give a deposition in his high-stakes court fight with Twitter over whether he has to follow through with his agreement to buy the social platform for $44 billion.

Instead, Musk's questioning was postponed to a future date. Twitter CEO Parag Agrawal, who was also scheduled to face Musk lawyers on Monday, likewise postponed his deposition, according to a person who was briefed on the matter.

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

News of the postponements fueled a brief rally in Twitter shares, which jumped 5.4% to $43.03, apparently on hopes of a settlement in the case. That enthusiasm waned later in the day. Twitter shares closed Monday at $41.58, eight cents higher than they opened.

Musk Subpoenas Twitter Whistleblower In Bid To Rescind Acquisition
Musk Subpoenas Twitter Whistleblower In Bid To Rescind Acquisition

Musk Subpoenas Twitter Whistleblower In Bid To Rescind Acquisition

Twitter's former head of security was subpoenaed after a whistleblower complaint alleged the platform misled U.S. regulators about fake accounts.


Court watchers said that such postponements are not unusual ahead of major pretrial hearings. A hearing on several significant pretrial motions is scheduled for Tuesday. 

Both men were expected to answer questions posed by opposing lawyers ahead of an October trial that will determine who is at fault for the seeming collapse of Musk's Twitter bid, not to mention who owes whom large sums of money as a result. The trial is set to begin October 17 in Delaware Chancery Court, where it's scheduled to last just five days.

Musk, the world’s richest man, agreed in April to buy Twitter and take it private, offering $54.20 a share and vowing to loosen the company’s policing of content and to root out fake accounts. In July, he attempted to back out of the deal, leveling a number of charges at Twitter as justification for his action.

Twitter subsequently sued Musk to force him to complete the acquisition.

Additional reporting by The Associated Press.