Twitter hires law firm Wachtell to sue Musk after pulling out of $44 billion deal

July 10 (Reuters) – Twitter Inc (TWTR.N) has employed U.S. law organization Wachtell, Lipton, Rosen & Katz LLP as it prepares to sue Elon Musk and drive him to comprehensive the $44 billion acquisition of the social media corporation, in accordance to people today common with the matter.

Musk, the chief government officer of Tesla , on Friday terminated his offer, indicating Twitter had unsuccessful to offer facts about bogus accounts on the platform, following which Twitter’s chairman, Bret Taylor, vowed a authorized battle. browse additional

Twitter is preparing to file a regulation suit early this 7 days in Delaware, people today acquainted with the issue reported.

Twitter declined to remark when the law organization did not immediately respond to Reuters’ ask for for remark exterior enterprise several hours.

Wachtell, Lipton, Rosen & Katz was one of the authorized advisers for Musk’s plan to choose Tesla private in 2018. Musk tweeted that there was “funding secured” for a $72 billion offer to acquire Tesla personal but did not transfer in advance with an provide.

Musk and Tesla each and every paid out $20 million in civil fines, and Musk stepped down as Tesla’s chairman to solve U.S. Securities and Trade Fee claims that he defrauded traders.

Twitter’s existing legal team features Simpson Thacher & Bartlett LLP and Wilson Sonsini Goodrich & Rosati.

Reporting by Maria Ponnezhath in Bengaluru and Greg Roumeliotis in New York enhancing by Diane Craft

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