Microblogging site Twitter has hired a giant law firm to pursue a case against American billionaire Elon Musk for canceling its purchase, according to news reports.
And the US economic agency “Bloomberg” revealed that the Delaware-based law firm (Wachel, Lipton Rosen & Katz) will handle the case that Twitter will file earlier this week.
Two days ago, Tesla’s CEO announced that he was canceling the $44 billion acquisition of Twitter, knowing that he had reached an initial agreement on it last April.
The deal repeatedly failed, until news reports in recent days suggested it was on the verge of collapse due to fake accounts, which Musk says are much larger than Twitter says.
After announcing the cancellation of this contract, Twitter threatened to pursue the American billionaire through legal means.
Canceling the deal opens the door to a legal battle with the company over termination fees that could reach $1 billion or more.
The Crown Court in Delaware, which is expected to hear the case, differs from other courts in that it does not have a jury, but is overseen by judges called attorneys.
Two of Twitter’s current attorneys have previously served as counsel in this court.
The court’s judges handle business disputes because large American companies, including Twitter, claim the state as their headquarters, even though their main offices are in another state.
This court has a reputation for speeding up cases compared to criminal courts, so it is likely that the case will be over within a few months.
Source: Lebanon Debate
