July 10 (Reuters) – Twitter Inc (TWTR.N) has hired U.S. legislation company Wachtell, Lipton, Rosen & Katz LLP as it prepares to sue Elon Musk and pressure him to full the $44 billion acquisition of the social media firm, in accordance to persons familiar with the issue.
Musk, the main govt officer of Tesla , on Friday terminated his deal, expressing Twitter experienced failed to give information and facts about pretend accounts on the system, right after which Twitter’s chairman, Bret Taylor, vowed a legal fight. study extra
Twitter is scheduling to file a legislation match early this week in Delaware, folks acquainted with the make any difference mentioned.
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A 3D-printed Twitter brand on non-3D printed Twitter logos is witnessed in this image illustration taken April 28, 2022. REUTERS/Dado Ruvic/Illustration
Twitter declined to remark when the legislation business did not immediately react to Reuters’ request for remark outside enterprise hours.
Wachtell, Lipton, Rosen & Katz was a single of the lawful advisers for Musk’s prepare to choose Tesla private in 2018. Musk tweeted that there was “funding secured” for a $72 billion offer to take Tesla personal but did not move in advance with an present.
Musk and Tesla each individual compensated $20 million in civil fines, and Musk stepped down as Tesla’s chairman to solve U.S. Securities and Trade Commission statements that he defrauded buyers.
Twitter’s existing lawful group features 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 enhancing by Diane Craft
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