After Elon Musk attempted to terminate the $44 billion-valued Twitter acquisition deal on Friday, July 8th, the San Francisco, California-based social media company seems to have lawyered up.
As reported by The Verge, Twitter has hired the law firm Wachtell, Lipton, Rosen & Katz, with one of its founders, Martin Lipton, credited as the inventor of the shareholder rights plan or the “Poison Pill,” a tactic that Twitter deployed earlier this year to block Musk’s initial buyout offer.
Following Musk’s remarks on Friday, Twitter chairman Bret Taylor released a statement on Twitter saying that the company “plans to pursue legal action to enforce the merger agreement,” in the Delaware Court of Chancery.
The Twitter Board is committed to closing the transaction on the price and terms agreed upon with Mr. Musk and plans to pursue legal action to enforce the merger agreement. We are confident we will prevail in the Delaware Court of Chancery.
— Bret Taylor (@btaylor) July 8, 2022
Following Taylor’s comment, Musk being the meme lord he is, posted a meme about the current debacle, implying that the reason he withdrew his offer was that Twitter wouldn’t disclose how many users on its platform are bots and that the platform would now have to do so in court.
— Elon Musk (@elonmusk) July 11, 2022
“For nearly two months, Mr. Musk has sought the data and information necessary to make an independent assessment of the prevalence of fake or spam accounts on Twitter’s platform,” reads Musk’s legal team’s letter to the U.S. Securities and Exchange Commission (SEC).
Musk’s legal team, the Quinn Emanuel Urquhart & Sullivan law firm, has defended the billionaire in the past, specifically in his “pedo guy” defamation lawsuit, and has also defended Samsung in its Apple patent lawsuit, according to The Verge.
Via: The Verge