Twitter has employed elite regulation agency Wachtell, Lipton, Rosen & Katz because it readies for a authorized battle towards Elon Musk, who has moved to terminate his $44bn acquisition of the social media firm, in accordance with two individuals aware of the scenario.
The San Francisco firm is getting ready to file its lawsuit with the Delaware Courtroom of Chancery towards Musk early this week, one of many individuals mentioned.
Musk mentioned on Friday that he deliberate to stroll away from his deal to purchase Twitter, citing three breaches of the merger settlement by the social media platform.
In response, Twitter vowed to carry the mercurial billionaire to his unique deal phrases and worth of $54.41 per share, in what might develop right into a messy authorized struggle that may dictate the way forward for the corporate.
Along with drafting merger agreements, Wachtell Lipton has maybe the main litigation observe in Delaware, the place the vast majority of US public firms are integrated. It defends firms in breach of fiduciary obligation lawsuits and damaged merger agreements within the state.
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