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 ,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.
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.
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.
-Reuters.