Twitter Hires Top Legal Firm To Sue Elon Musk For Ending 44 Billion Dollar Deal
Twitter is contemplating legal action against Tesla and SpaceX CEO Elon Musk over his decision to terminate a 44 billion dollar takeover deal.
The microblogging site has hired a large New York-based law firm as it prepares to sue Musk. Twitter will file its lawsuit in Delaware next week.
On Saturday, Bret Taylor, Twitter’s chairman said, the Twitter Board is committed to closing the transaction on the price and terms agreed upon with Musk and plans to pursue legal action to enforce the merger agreement.
Musk announced the termination of the 44 billion dollar Twitter purchase deal in a letter sent by Musk’s team to Twitter earlier on Saturday.
Musk decided to suspend the deal due to what he called multiple breaches of the purchase agreement.