Twitter hires lawyers for legal battle with Musk
STORY: Twitter has hired lawyers to sue Elon Musk and force him to complete a $44 billion takeover.
The Tesla boss dropped plans for the deal on Friday (July 8).
He says the social network has failed to provide information about fake accounts on its platform.
In response, Twitter chairman Bret Taylor has vowed a legal fight.
The firm has hired Wachtell, Lipton Rosen & Katz to lead the effort.
The same lawyers advised Musk back in 2018, when he tweeted that he had funding to take Tesla private.
He never proceeded with such an offer, and was sued for defrauding investors.
Musk was and Tesla were both fined $20 million.
Now sources say Twitter will file a law suit against Musk in Delaware as early as this week.
Legal experts say the odds are in Twitter’s favor, with courts in the state setting a high bar for allowing firms to abandon deals.
In such circumstances, companies often renegotiate the deal or agree compensation to avoid a long legal battle.
There was no immediate comment on the latest reports from either Twitter or the law firm.
Shares in the social network tumbled around 9% in the first moments of U.S. premarket trade on Monday (July 11).
