September 28, 2023


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

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July 10 (Reuters) – Twitter Inc (TWTR.N) has hired U.S. legislation business Wachtell, Lipton, Rosen & Katz LLP as it prepares to sue Elon Musk and drive him to comprehensive the $44 billion acquisition of the social media enterprise, according to individuals common with the issue.

Musk, the main government officer of Tesla , on Friday terminated his deal, indicating Twitter experienced failed to supply information about faux accounts on the system, immediately after which Twitter’s chairman, Bret Taylor, vowed a legal struggle. study much more

Twitter is scheduling to file a regulation fit early this week in Delaware, people common with the make any difference reported.

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Twitter declined to remark though the law business did not straight away answer to Reuters’ request for comment outside the house enterprise several hours.

Wachtell, Lipton, Rosen & Katz was one particular of the legal advisers for Musk’s system to take Tesla personal in 2018. Musk tweeted that there was “funding secured” for a $72 billion offer to consider Tesla personal but did not go in advance with an present.

Musk and Tesla each and every compensated $20 million in civil fines, and Musk stepped down as Tesla’s chairman to take care of U.S. Securities and Trade Fee statements that he defrauded buyers.

Twitter’s existing legal group involves 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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