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Twitter founder Jack Dorsey gives deposition in lawsuit with Elon Musk

Legal correspondent Alexis Keenan details Twitter founder Jack Dorsey's participation in the lawsuit against Elon Musk and when Musk himself is expected to give his testimony.

Video Transcript

- Twitter founder and former CEO Jack Dorsey getting questioned under oath today in the ongoing legal battle between Twitter and Elon Musk. Alexis Keenan is here with the latest on that. And Alexis, what can you tell us?

ALEXIS KEENAN: So this was supposed to have started at 9:00 AM today. And it's supposed to go until it's completed. So I guess that could be tomorrow, too, depending on how many questions both of these lawyers have. Lawyers from both sides will be asking questions of Dorsey. Now, there's little mention, though, of Dorsey in the court documents in general. He resigned as CEO from the company in November 2021. So that puts him well before this deal was being discussed.

Though he was on the board up until that deal was signed. All the way until April it was signed. And then he left the board in May. And then in late March, it's Musk who says that Dorsey had asked him, along with other board members, it was Dorsey and other board members, inquiring with Musk about whether he would join the board. And those discussions got started at that time. And while Dorsey has been critical of the board itself, of his own Twitter board, he's called it consistently dysfunctional. He's tweeted extensively about it.

Look, if he's going to give a deposition, it doesn't go to his interest to give Musk's lawyers what they want. And what do Musk's lawyers want? They want him to talk about the fact that the SEC filings and the company's financial disclosures had misstatements or omissions that were material. That's what Musk needs to prove his case and to wiggle out of this $44 billion deal. So while Dorsey goes so far as to speak against his interest and say that on his watch as CEO that he was knowledgeable that there were misstatements or omissions in those filings, eh, I'm thinking maybe not skeptical.

- A little skeptical are you on that one?

ALEXIS KEENAN: I'm a little skeptical.

- I would agree with your skepticism there. So Elon is deposed next week. What should we expect?

ALEXIS KEENAN: Yes. So Elon Musk is going to be deposed on Monday and Tuesday. And then, again, that could trickle into more days if need. Be they've reserved the time for that. But these lawyers are going to want to know from Musk particularly. They're also going to want to know about his discussions with Dorsey. Who did what when? Did they have any private communications or emails or texts between them about those MDAUs? Was there discussion about that? Was that part of the considerations that Musk was making in this deal? So we will learn a lot more as these depositions go forward and as the transcripts start to come out about what was said in those depositions. And we will bring those to you once we have them.

- As we await five days in Delaware. It feels like this wait is excruciating.

- It feels very long. It can't come soon enough.

- Good lord.

- That's for sure.

- Alexis Keenan, thank you. Good stuff.