38 C
Dubai
Friday, April 4, 2025
spot_img

World News | Twitter CEO Musk delays questions ahead of October trial

[ad_1]

WILMINGTON (U.S.), Sept. 27 (AP) Tesla CEO Elon Musk was suspended Monday by Twitter’s lawyers, according to several news reports. The billionaire was scheduled to testify in his high-stakes court battle with Twitter on whether he had to fulfill a deal to buy the social platform for $44 billion.

Instead, Musk’s questioning was postponed to a future date. Twitter CEO Parag Agrawal, who is also scheduled to meet with Musk’s lawyers on Monday, has also postponed his testimony.

Also read | The United States has vowed “catastrophic consequences” if Russia uses nuclear weapons after a drone attack on the Ukrainian port of Odessa.

Bloomberg, Reuters and The Wall Street Journal all reported on the two extensions, all of which attributed the information to anonymous sources.

News of the delay prompted a brief rally in Twitter’s stock, which rose 5.4% to $43.03 in apparent hope of resolving the case. That enthusiasm waned later in the day. Twitter shares closed at $41.58 on Monday, 8 cents above their opening price.

Also read | Partygate scandal: UK parliamentary panel defends Partygate probe into Boris Johnson.

Court observers said such extensions were not unusual ahead of major pretrial hearings. Hearings on several major pretrial motions are scheduled for Tuesday.

The pair are expected to answer questions from opposing lawyers ahead of a trial in October that will determine who was at fault for Musk’s seemingly failed Twitter bid, let alone who owes whom large sums of money. The trial is scheduled to begin Oct. 17 in Delaware Chancery Court and is expected to last just five days.

Musk, the world’s richest man, agreed in April to buy Twitter and take it private for $54.20 a share, vowing to ease the company’s regulation of content and root out fake accounts. In July, he tried to back out of the deal, citing multiple allegations on Twitter as a reason for his action. (Associated Press)

(This is an unedited and auto-generated story from the Syndicated News feed, the body of the content may not have been modified or edited by LatestLY staff)



[ad_2]

Source link

Related Articles

Gold Market Shifts: Prices Dip as Tariff Clarity Sparks Cautious Optimism and Economic Concerns

Gold prices experienced notable fluctuations as global investors responded to renewed clarity surrounding U.S. President Donald Trump’s tariff measures. The precious metal, often viewed as...

ADES Strengthens Global Presence: Saudi Drilling Giant Expands into Brazil with $85.1M Landmark Deal

ADES Holding Co., the Saudi-based drilling giant, has made a bold move into the Brazilian market with an $85.1 million charter agreement, signaling a...

Marco Rubio Strengthens Ties: U.S. Secretary of State to Tackle Immigration and Security in Caribbean Tour

Marco Rubio is set to embark on a diplomatic tour of the Caribbean, with scheduled visits to Jamaica, Guyana, and Suriname on March 26-27. The...

Alibaba Revives Hiring as Chairman Joe Tsai Warns of AI Bubble Risks in U.S. Market..

Alibaba Group has announced its decision to resume hiring, signaling renewed confidence in its growth trajectory following recent discussions with Chinese leadership. The announcement by...

Saudi Arabia Leads the Charge for Global Water Cooperation and Sustainability

Saudi Arabia is taking a proactive stance in advocating for global cooperation on water issues, highlighting the urgent need for sustainable water management practices...

Latest Articles