Twitter hires US law firm Wachtell to sue Musk after pulling out of $44 bln deal: Report

Elon Musk, the chief executive officer of Tesla, on Friday terminated his deal, saying Twitter had failed to provide information about fake accounts on the platform, after which Twitter's chairman, Bret Taylor, vowed a legal fight.

Twitter declined to comment while the law firm did not immediately respond to Reuters' request for comment outside business hours. (Reuters Photo)

Twitter Inc has hired U.S. law firm Wachtell, Lipton, Rosen & Katz LLP as it prepares to sue Elon Musk and force him to complete the $44 billion acquisition of the social media company, according to people familiar with the matter.

Musk, the chief executive officer of Tesla, on Friday terminated his deal, saying Twitter had failed to provide information about fake accounts on the platform, after which Twitter’s chairman, Bret Taylor, vowed a legal fight.

Read in Explained | Explained: Why does Elon Musk want to terminate $44 billion Twitter deal and what happens next?

Twitter is planning to file a law suit early this week in Delaware, people familiar with the matter said. Twitter declined to comment while the law firm did not immediately respond to Reuters’ request for comment outside business hours.

Story continues below this ad

Wachtell, Lipton, Rosen & Katz was one of the legal advisers for Musk’s plan to take Tesla private in 2018. Musk tweeted that there was “funding secured” for a $72 billion deal to take Tesla private but did not move ahead with an offer.

Also Read | Twitterati roast Elon Musk for ‘abandoning’ Twitter deal

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.

Top Stories

BJP plans over 1,000 CAA camps across West Bengal, to focus on Bangladesh-bordering districts ahead of SIR and polls

Cities BJP plans over 1,000 CAA camps across Bengal, to focus on Bangladesh-bordering districts

Entertainment Twinkle Khanna says 'raat gayi baat gayi' as she talks about infidelity, Kajol says 'love ceases to exist' without compatibility

Sports Pratika Rawal: DU Psychology graduate who went from nets on terrace to new heights at World Cup, inspired by father’s dream

The UN may be imperfect; but as the legendary Dag Hammarskjold put it, the UN was ‘not created to take mankind to heaven, but to save humanity from hell’. (Illustration by: Shashi Tharoor)

Opinion Multilateralism isn't dead

Algerian-French artist’s work vandalised at Kochi art gallery over ‘obscenity’ allegations

India7 hr ago

Algerian-French artist Hanan Benammar's linocut prints were vandalised by two artists at an international exhibition in Kochi. The exhibition, curated by Anushka Rajendran and Damian Christinger, was organised by the Kerala Lalithakala Akademi and opened on October 18.

View all shorts

Live Blog

Loading Taboola...