Global Upfront Newspapers
AmericaCoverNewsTech

Twitter Hires Top U.S. Law Firm To Sue Elon Musk For Pulling Out Of $44 Billion Takeover Deal

  • Twitter is planning to file a law suit early this week in Delaware, people familiar with the matter said.

Twitter Inc has hired US law firm Wachtell, Lipton, Rosen & Katz LLP as it prepares to sue Elon Musk and force him to complete the $44 billion acquisition of the social media company, according to people familiar with the matter.

Musk, the chief executive officer of Tesla, on Friday terminated his deal, saying Twitter had failed to provide information about fake accounts on the platform, after which Twitter’s chairman, Bret Taylor, vowed a legal fight. 

Twitter is planning to file a law suit early this week in Delaware, people familiar with the matter said.

Twitter declined to comment while the law firm did not immediately respond to Reuters’ request for comment outside business hours.

Wachtell, Lipton, Rosen & Katz was one of the legal advisers for Musk’s plan to take Tesla 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.

Musk and Tesla each paid $20 million in civil fines, and Musk stepped down as Tesla’s chairman to resolve US Securities and Exchange Commission claims that he defrauded investors.

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

Advertize With Us

See Also

South Africa’s Role As Host Of BRICS Summit Is Fraught With Dangers. A Guide To Who Is In The group, And Why It Exists, By Danny Bradlow

Global Upfront

The Scandals In Abuja

Global Upfront

Biden To Host 3-day NATO Summit Geared At ‘Managing Expectations’

Global Upfront

Nigeria: FG presents evidence of amended 7-count treasonable felony charges against Nnamdi Kanu, accuse him of inciting violence, terrorism

Global Upfront

Terrorists/Bandits’ Kingpins Speak in Explosive Trust TV Documentary, Explains ‘Why We Took Up Arms’

Global Upfront

Obiano Released From EFCC Custody After 6 Nights In Detention, His Passport Seized, Barred From Travelling Abroad

Global Upfront

This website uses Cookies to improve User experience. We assume this is OK...If not, please opt-out! Accept Read More