Elon Musk, Twitter have yet to reach deal to end litigation -sources
Twitter's legal team and lawyers for Musk, the world's richest person, updated the judge who is overseeing the litigation on Tuesday to try to overcome mutual distrust and find a process for closing the deal. Musk is scheduled to be deposed on Thursday in Austin, Texas. "That's the pressure point," said a second source.
- Economy
- Reuters
- Published Date: 04:45 | 05 October 2022
- Modified Date: 04:47 | 05 October 2022
Elon Musk and Twitter Inc have not yet reached an agreement to end the litigation and clear the way for the world's richest person to close his $44-billion deal for the social media platform, two sources familiar with the litigation told Reuters on Wednesday.
"Keep an eye on the docket," said one source.
Twitter's legal team and lawyers for Musk, the world's richest person, updated the judge who is overseeing the litigation on Tuesday to try to overcome mutual distrust and find a process for closing the deal.
Musk is scheduled to be deposed on Thursday in Austin, Texas.
"That's the pressure point," said a second source.
Musk canceled a deposition in late September citing concerns about a Twitter attorney's possible exposure to someone who later tested positive for COVID-19, according to a court filing made public on Wednesday.
Musk, who is also chief executive of electric vehicle maker Tesla Inc, said in July he was walking away from the April takeover agreement because he discovered Twitter had allegedly misled him about the amount of fake accounts, among other claims.