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

Barbie Espinol

July 10 (Reuters) – Twitter Inc (TWTR.N) has employed U.S. legislation agency Wachtell, Lipton, Rosen & Katz LLP as it prepares to sue Elon Musk and pressure him to finish the $44 billion acquisition of the social media business, in accordance to folks familiar with the matter.

Musk, the main government officer of Tesla , on Friday terminated his deal, indicating Twitter had unsuccessful to give data about fake accounts on the platform, just after which Twitter’s chairman, Bret Taylor, vowed a legal combat. study much more

Twitter is arranging to file a legislation go well with early this 7 days in Delaware, persons familiar with the make a difference reported.

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Twitter declined to remark even though the legislation firm did not promptly react to Reuters’ request for remark exterior organization hrs.

Wachtell, Lipton, Rosen & Katz was 1 of the authorized advisers for Musk’s program to acquire Tesla private in 2018. Musk tweeted that there was “funding secured” for a $72 billion deal to just take Tesla private but did not transfer ahead with an offer.

Musk and Tesla every paid $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 buyers.

Twitter’s present lawful crew includes Simpson Thacher & Bartlett LLP and Wilson Sonsini Goodrich & Rosati.

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

Our Expectations: The Thomson Reuters Trust Ideas.

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