The co-founder of Twitter Inc. (NYSE: TWTR ) Jack Dorsey will be questioned under oath Tuesday by company attorneys and Elon Musk, via Zoom, Bloomberg reports, citing a deposition notice filed Monday night.
What you should know For those who are not aware, Musk and Twitter have been fighting a legal battle after the decision of the CEO of Tesla inc. (NASDAQ:NASDAQ: TSLA ) to pull out of a $44 billion deal to buy the social media platform.
Twitter subsequently opted for legal recourse to enforce the agreement and filed suit in the Delaware Court of Chancery. Judge Kathaleen McCormick, who is presiding over the case, agreed to Twitter’s request and ordered a five-day trial beginning Oct. 17.
Dorsey was subpoenaed by Musk’s lawyers in late August. In the subpoena, they had requested a set of documents, including those related to the effect of spam accounts on Twitter’s business, the use of mDAU as a key metric, and business plans for analysis to achieve mDAU’s goals.
Reports suggest that Dorsey has been urging Musk to take over Twitter in private messages. Dorsey stepped down as CEO of Twitter in November to focus on his company Block Inc. (NYSE:SQ), handing over the reins to Parag Agrawal, of Indian origin.
Commenting on Dorsey’s statement, Future Fund’s Gary Black said: “Both sides will depose him as, although Jack is friends with Elon and presumably knows where the bodies are buried, it is highly unlikely that he will incriminate himself as ex-CEO of $TWTR”.
The price move Shares of Twitter closed the trading session on Monday 0.51% higher at $41.66, according to Benzinga Pro.