Twitter has reportedly hired a major merger law firm to go ahead with its plans to sue Elon Musk over his decision to back out of a $44 billion takeover deal.
Bloomberg reported that the social media platform intends to file a lawsuit in the coming days to force Musk to go through with the deal, citing sources who spoke on condition of anonymity.
Twitter hired the law firm Wachtell, Lipton, Rosen & Katz, whose staff includes the former chancellor of the Delaware Court of Chancery, where the legal battle will take place.
Leo Strine was also Chief Justice of the Delaware Supreme Court before joining the firm in 2019.
On Friday, Musk indicated in a filing to the US SEC (Securities Commission) that he wanted to withdraw from the deal.
He has repeatedly accused the platform of lying with the number of fake accounts on its site.
Twitter Chairman Bret Taylor responded by saying the company would take legal action to force Musk to complete the sale.
Twitter hired a powerful law firm in the face of the impending court battle with Elon Musk
” height=”2430″ width=”3650″ layout=”responsive” class=”inline-gallery-btn i-amphtml-layout-responsive i-amphtml-layout-size-defined” on=”tap:inline-image-gallery,inline-image-carousel.goToSlide(index=1)” tabindex=”0″ role=”button” data-gallery-length=”2″ i-amphtml-layout=”responsive”> Twitter hired a powerful law firm in the face of the impending court battle with Elon Musk – (PA Wire) The deal between Twitter and Musk included a $1 billion breakup fee, which the billionaire was required to pay if the deal didn’t go through. Musk “tripled” his claim that Twitter did not report the number of Twitter accounts. spam on his platform during a speech to tech moguls, according to a new report. Musk told an audience of high-level media executives at the Allen & Co Sun Valley Conference in Idaho on Saturday that the decision was “about the bots”, reported CNN. On its website, Wachtell, Lipton, Rosen & Katz noted that it handles “some of the largest, most complex and demanding transactions in the United States and around the world.” Twitter did not immediately respond to a request for comment. –Related posts:
