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Twitter hires law firm Wachtell to sue Elon Musk after terminating $44 billion takeover deal
By Arghyadeep Dutta - Jul 11, 2022, 12:00 PM ET
Last Updated - Mar 11, 2024, 03:32 PM EDT
Twitter is planning to file a lawsuit early this week in Delaware
• Twitter is planning to file a lawsuit early this week in Delaware
Twitter Inc (NYSE: TWTR) has hired Wachtell, Lipton, Rosen & Katz LLP, a US law firm, as the company prepares to sue Elon Musk and force him to complete the acquisition of the social media platform, Reuters reported on Monday, citing people familiar with the matter.
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Musk on Friday terminated his $44 billion deal, saying Twitter had failed to provide data about fake accounts on the microblogging platform.
“Twitter has not provided information that Mr Musk has requested for nearly two months notwithstanding his repeated, detailed clarifications intended to simplify Twitter’s identification, collection, and disclosure of the most relevant information sought in Mr Musk’s original requests,” said Musk’s lawyer in a letter to securities regulators.
Twitter’s chairman, Bret Taylor, vowed a legal fight after the termination, and the company is planning to file a lawsuit early this week in Delaware, the report said
Wachtell, Lipton, Rosen & Katz was one of the legal advisers for Tesla Inc (NASDAQ: TSLA) CEO Elon Musk’s plan to take the electric carmaker private in 2018. Musk tweeted that there was “funding secured” for a $72 billion deal to take Tesla private but did not move ahead with an offer.
Picture Credit: Variety
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