January 31, 2023

Elon Musk and Twitter CEO Parag Agrawal were supposed to appear in court on Monday for a deposition meeting. However, the meeting was canceled, and no question was asked from both side. This could signify that Musk and Twitter have reached an agreement before the court session in October.

In the US legal system, a deposition is a sworn testimony that the witness must swear to answer the questions honestly. The judge is usually not present in this meeting. A similar meeting was scheduled for Musk and Agrawal on Monday, but for whatever reason, it was canceled. A new deposition meeting is scheduled for Wednesday. Yet, there is no change or delay in the schedule.

Musk and Twitter already agreed to appear on Wilmington, Delaware court on October 17. The court ruling could put an end to this contentious litigation between the richest man on the planet and the social network.

Musk & Twitter could reach a settlement before October

Canceling the deposition meeting raised speculations about a possible settlement between Elon Musk and Twitter. However, this is just a guess, and we should wait for the Wednesday deposition meeting results.

Musk and his lawyers are looking for a way to pull out of the deal, including the World War 3 or severance payment to the whistleblower. On their side, Twitter says Musk should fulfill his promises and complete the $44 billion deal.

Musk previously said he is ready to complete the deal if Twitter could elaborate on its sampling methods for deterring fake and real accounts. Additionally, former Disney CEO Bob Iger recently said they canceled a potential Twitter buyout deal in 2016 because a “substantial” number of Twitter accounts were fake. After the former Twitter security chief accused the company of lying about its security measures, Musk’s lawyers are optimistic that they can use these claims to their advantage.

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However, Twitter Chairman Bret Taylor says Musk’s claims are “factually inaccurate, legally insufficient and commercially irrelevant.” He added, “Musk refuses to honor his obligations to Twitter and its stockholders because the deal he signed no longer serves his personal interests.”