Ahead of the infamous Twitter trial, Elon Musk will face a deposition with Twitter’s lawyers. Twitter lawyers will take turns and ‘interrogate’ Musk by asking him various questions linked to the Twitter acquisition, a few days ahead of the start of the lawsuit.
According to Associated Press, the questioning will take place on Monday with a possibility for an extension to Tuesday, or Wednesday as needed. Unfortunately for all Elon Musk fans, the deposition won’t be public. It will take place in a private courtroom, with no cameras, or sound recorders.
The back story behind the whole lawsuit thing is that Elon Musk decided to back off from the deal to buy the social media, only due to one ‘concern’. The concern was that Twitter mispresented the number of fake/spam accounts on the platform and with that created an illusion that Elon took for granted.
Elon Musk Will Be ‘Inhterrogated’ By Twitter’s Lawyers
As a result, Elon Musk backed away from the $44 billion acquisition. The reason – he is no longer interested in the social media since the fake/spam accounts are far more than advertised. While Twitter claims that the spam/fake accounts on the platform consist of 5%, Elon Musk’s estimate is around 20%.
Elon Musk accepted the invitation for a deposition. He will attend the deposition but did not give further exclamation on how he is planning to do that.
He has an option to whether be present at the courtroom personally or connect through a video link. FYI, this is the last time that both sides speak before the trial takes place at the Delaware Chancery Court.
Initially, Elon Musk offered to acquire the social media company Twitter for a price of $54,2 per share. The highest it has been ever since the start of the year.
Shortly before and after the offer, the stock market price was much lower than this. Since 2018, the price is fluctuating somewhere around $40 per share, and tops at the beginning of 2021, at $70. After that, it is constantly on a decline. Even now, the price is somewhere in the $40 frame.
Elon Musk also claimed that one of the reasons for buying the platform is to put an end to censorship. Censorship present in Twitter massively. According to him, Twitter was leading biased censorship, usually targeting people from the opposition. People with conservative thinking.
The famous Twitter trial will start at the beginning of October. It will decide whether Musk will finally acquire Twitter, or he will be able to ‘pass’ with a smaller ‘fine’.