This Latest “Hire” Should Worry Elon Musk
(NewsReady.com) – Tesla Founder Elon Musk offered to buy Twitter in the spring for a whopping $44 billion. However, he recently rescinded the offer and unilaterally canceled the sale. Now, Twitter has hired a legal team and filed a lawsuit.
The social media giant hired Wachtell, Lipton, Rosen & Katz to take on Musk. The heavyweight attorneys specialize in merger and acquisitions litigation. Among the lawyers at the firm are William “Bill” Savitt, who is among a group of top chancery court litigators. He clerked for the late-Associate SCOTUS Justice Ruth Bader Ginsburg and also serves on the board of trustees of the Columbia Law Review.
Leo Strine is also at the law offices. He recently served as Delaware’s chief justice of the state Supreme Court. He also served as both chancellor and vice-chancellor of the Delaware Court of Chancery.
The legal team has already filed a lawsuit against the world’s richest man in the Delaware Court of Chancery.
JUST IN – Twitter has filed a lawsuit in Delaware to force Elon Musk to buy the platform for $44 billion.
— Disclose.tv (@disclosetv) July 12, 2022
Musk claims Twitter didn’t disclose its bot information and ultimately that led to his decision to back out of the deal. However, in its lawsuit, the social media company accuses the billionaire of trashing the company, damaging its stockholder value, disrupting its operations, and then walking away. The suit claims he’s only trying to terminate the deal because the stock market took a turn for the worse and his personal wealth is on the line.
What do you think about the dispute between Musk and Twitter?
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