For the past few weeks, Elon Musk’s acquisition of Twitter has been a leaking ship. There has been a lot of drama around this whole situation, and it appears that the transaction will end poorly. Now, Twitter has sued Elon Musk and has enlisted the help of some tenacious attorneys.
Elon Musk attempted to back out of the agreement. Elon Musk and Twitter have been at odds for a while now over things like the company’s profitability and the number of fake accounts. This complex legal dispute, though, is about something else.
Elon Musk is rumored to be reluctant to sign the contract; on Friday, July 8th, Musk filed a document that would terminate the entire acquisition. Twitter, though, doesn’t appear to be having it. In essence, Twitter is pushing for the transaction to go through. The business desires to bind Elon Musk’s hand.
Advertisement TWITTER INCLUDED STRONG ATTORNEYS IN THE CASE AGAINST ELON MUSK According to The Verge , the social media juggernaut hired Wachtell, Lipton, Rosen and Katz as its legal counsel. This is undoubtedly a ruthless and well-known law company that charges a lot of money. Twitter hired Leo Strine and William Savitt from this firm. These attorneys each have a distinguished background.
Elon Musk, though, still has his own personal legal army. Sullivan and Quinn Emanuel Urquhart were employed by the Tesla CEO. This company has a strong track record as well. This company defended Samsung in Apple’s patent dispute.
We are still in the early phases of this litigation, so there isn’t much we can say at this time. Currently, Twitter wants Elon Musk to buy the company even though he wanted to wash his hands of the social media platform. It’s difficult to grasp your mind around that.
Advertisement The majority of us believed that everything would go off without a hitch. We anticipated that Elon would have a gleaming social media company after crossing all his Ts and dotting his Is. But soon after the news surfaced, the agreement started to break down.
As the final episode of this soap opera approaches, it appears that our leading pair is breaking up. There will be a lot of updates between now and the last gavel strike because we can anticipate that this litigation will last for quite some time.