Micro-blogging website Twitter has hired US law firm Wachtell, Lipton, Rosen & Katz LLP to sue Tesla chief executive officer (CEO) Elon Musk after he abandoned the USD 44 billion takeover deal, according to a report by Reuters.
Notably, Wachtell, Lipton, Rosen & Katz was one of the legal advisers for Musk’s plan to take Tesla private in 2018.
Twitter will file its lawsuit in Delaware next week. Meanwhile, Musk is being represented by the law firm Quinn Emanuel Urquhart & Sullivan.
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On Saturday, Bret Taylor, Twitter’s chairman said, “The Twitter Board is committed to closing the transaction on the price and terms agreed upon with Mr. Musk and plans to pursue legal action to enforce the merger agreement. We are confident we will prevail in the Delaware Court of Chancery.”
Musk and Tesla each paid $20 million in civil fines, and Musk stepped down as Tesla’s chairman to resolve U.S. Securities and Exchange Commission claims that he defrauded investors.
Twitter’s existing legal team includes Simpson Thacher & Bartlett LLP and Wilson Sonsini Goodrich & Rosati.
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