Elon Musk to get sued by Twitter as it hires US Law Firm Wachtell
Twitter Inc has employed U.S. law firm Wachtell, Lipton, Rosen & Katz LLP to sue Elon Musk. They are preparing themselves for the case and will try to force him to complete the $44 billion acquisition of the social media company, as per the people who were familiar with the matter or have been there as an evidence.
HIGHLIGHTS
- Elon Musk terminated the deal with Twitter in Friday
- After the termination Twitter’s chairman, Bret Taylor vowed a legal fight
- Twitter hired law firm Wachtell, Lipton, Rosen & Katz LLP to sue Musk
Also Read: Elon Musk abandoned the 44billion deal to buy Twitter
The chief officer of Tesla, Elon Musk had terminated his deal with Twitter on Friday itself. According to him, the reason for this termination of the deal is that Twitter has been failed to play the role of providing information about the fake accounts on the social media platform, Twitter. After such a scenario Twitter’s chairman Bret Taylor had vowed for a legal fight with Musk.
As per the people who all are involved or have been familiar with the matter have said that Twitter has been planning to file a law suit during the early days of this week in Delaware. Twitter had straight away declined to comment whereas the law firm has not immediately answer to the Reuters’ request for comment outside business hours.
Wachtell, Lipton, Rosen & Katz have been one of the legal advisers for Musk’s plan which is to take Tesla private in 2018. Musk had tweeted that they had already made the “funding secured” for a $72 billion deal to take away Tesla private however this deal did not move ahead with an offer.
Well, Musk and Tesla both of them paid $20 million each in civil fines, and Musk had to step down as Tesla’s chairman in order to resolve U.S. Securities and Exchange Commission which had claimed that he had intentionally defrauded investors. Twitter’s existing legal team includes Simpson Thacher & Bartlett LLP and Wilson Sonsini Goodrich & Rosati as the members of the particular team in recent scenario.
Also Read: Twitter asked its Employees to not Tweet anything about the Elon Musk Deal