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Twitter and Elon Musk legal teams both reportedly depose Jack Dorsey in legal fight

Twitter and Elon Musk legal teams both reportedly depose Jack Dorsey in legal fight By Proactive Investors

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Stock Markets 2 hours ago (Sep 20, 2022 10:11)

Twitter and Elon Musk legal teams both reportedly depose Jack Dorsey in legal fight

Twitter Inc (NYSE:TWTR) former CEO Jack Dorsey will be deposed by the respective legal teams for both Twitter and Elon Musk as the battle over Musk’s pulled bid for the social media firm heads to court, Bloomberg News has reported.

Musk previously subpoenaed Dorsey in August as part of the legal battle over the termination of his $44 billion deal to buy Twitter, with shareholders in the social media firm overwhelmingly voting to approve Musk’s takeover at a virtual meeting last week.

Dorsey, who expressed support for the Telsa chief executive’s bid earlier this year, co-founded Twitter and most recently served as its CEO from 2015 until Parag Agrawal took over in November 2021.

Musk first sought to end his acquisition of Twitter in July this year, prompting Twitter to file a lawsuit against him. He later counter-sued, claiming the social media company breached its obligations under the acquisition agreement by misrepresenting the total number of fake and spam accounts.

Twitter has rebuffed Musk’s claims of breaching the agreement and maintained that less than 5% of its users are spam and fake accounts.

Last week, Musk filed his third termination notice against the social media company, which it called “invalid and wrongful” in an SEC filing.

The legal battle between Musk and Twitter is currently set to go to trial in the Delaware Courts on October 17, 2022.

Last month, whistleblower allegations became public that provided Musk, the world’s richest person, with fresh ammunition to bolster his attempt to walk away from the Twitter deal without paying a US$1bn termination fee.

Twitter’s former head of security, Peiter Zatko, a well-known hacker called ‘Mudge’, said in a complaint to regulators that the company falsely represented that it had a solid data security plan.

Zatko gave testimony to the US Senate in Washington DC last week in which he said Twitter had been informed by the FBI of at least one Chinese agent working at the company.

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Twitter and Elon Musk legal teams both reportedly depose Jack Dorsey in legal fight

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