Twitter Hires Law Firm To Sue Elon Musk For Pulling Out Of $44 Billion Deal
California: Twitter Inc hired a separate law firm to sue Elon Musk and force him to complete the $44 billion acquisition of the popular social media company.
Tesla CEO Musk terminated the deal on Friday, saying Twitter had failed to provide information about fake accounts on the platform.
Twitter chairman Bret Taylor immediately vowed to launch a legal fight.
The company is planning to file a lawsuit in Delaware, Reuters reported citing people familiar with the matter.
Twitter’s existing legal team includes Simpson Thacher & Bartlett LLP and Wilson Sonsini Goodrich & Rosati, but they opted for Wachtell, Lipton, Rosen & Katz LLP to fight Musk.
Wachtell, Lipton, Rosen & Katz was one of Musk’s legal advisers when he planned to take Tesla private in 2018. The world’s wealthiest man had tweeted that ‘funding was secured’ for a $72 billion deal to take Tesla private, but did not ultimately go ahead with an offer.