Tesla CEO Elon Musk has reportedly been sued for abandoning its acquisition of Twitter. As part of the lawsuit, Musk will be questioned by Twitter lawyers next week.
Musk’s briefing is scheduled for Sept. 26-27, according to a filing today in Delaware Chancery Court. The interview will take place behind closed doors at a law firm in Wilmington, Delaware. If necessary, it may be extended to September 28.
At present, the litigation battle between Twitter and Musk is intensifying. The case will officially start on October 17 this year for a five-day trial. For now, both sides are seeking extensive correspondence and documents from the other to better defend themselves ahead of the trial. At the same time, the lawsuit has swept some of the biggest names in Silicon Valley and Wall Street.
In addition to Musk, Oracle founder Larry Ellison, former Intel CEO Robert Swan and Twitter co-founder Jack Dorsey also received subpoenas.
In the lawsuit, both sides accused the other of reviews for apps violating the acquisition agreement signed in April. And Twitter wants the judge to order Musk to continue to buy Twitter for $54.20 per share as originally agreed.
Several hedge funds, including Greenlight Capita and Pentwater Capital Management, have recently reported that Musk will ultimately not get his way and could end up buying Twitter for 10% to 15% less than the original deal price.