Twitter hires legislation agency Wachtell to sue Musk after pulling out of $44 billion deal

After Tesla CEO Elon Musk known as off the deal to purchase Twitter, the microblogging platform has employed US legislation agency Wachtell, Lipton, Rosen & Katz LLP because it prepares to sue him and power him to finish the $44 billion acquisition of the social media firm.

Twitter Inc has employed US legislation agency Wachtell, Lipton, Rosen & Katz LLP because it prepares to sue Elon Musk and power him to finish the $44 billion acquisition of the social media firm.

Twitter Inc has employed U.S. legislation agency Wachtell, Lipton, Rosen & Katz LLP because it prepares to sue Elon Musk and power him to finish the $44 billion acquisition of the social media firm, in response to individuals acquainted with the matter.

Musk, the chief govt officer of Tesla, on Friday terminated his deal, saying Twitter had failed to supply details about faux accounts on the platform, after which Twitter’s chairman, Bret Taylor, vowed a authorized combat.

Twitter is planning to file a lawsuit early this week in Delaware, individuals acquainted with the matter mentioned.

Twitter declined to remark whereas the legislation agency didn’t instantly reply to Reuters’ request for remark outdoors enterprise hours.

Wachtell, Lipton, Rosen & Katz was one of many authorized advisers for Musk’s plan to take Tesla non-public in 2018. Musk tweeted that there was “funding secured” for a $72 billion deal to take Tesla non-public however didn’t transfer forward with a proposal.

Musk and Tesla every paid $20 million in civil fines, and Musk stepped down as Tesla’s chairman to resolve U.S. Securities and Exchange Commission claims that he defrauded traders.

Twitter’s current authorized staff contains Simpson Thacher & Bartlett LLP and Wilson Sonsini Goodrich & Rosati.

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