A few days ago, Elon Musk announced that canceled the purchase of Twitterbreak an agreement worth $44 billion. In making this decision, the CEO of Tesla had to pay $1 billion, but this does not end here. Apparently the battle will continue in the courts and, therefore, Twitter hires a well-known law firm lawyers to win this legal battle against Musk.
As we have known for a few days, billionaire Elon Musk has withdrawn from the takeover of Twitter. The cause of this decision was that, according to him, Twitter had not provided him with truthful information. on the number of bots of the platform. This is not entirely correct, since the social network mentioned that less than 5% users were fake accounts and robots, but Musk denied those arguments and claimed the numbers were higher.
Elon Musk unveiled his “troll” strategy where he always wins
— Elon Musk (@elonmusk) July 11, 2022
All of us who know Elon Musk on social media, especially Twitter, know what he looks like. This is totally unusual behavior for a billionaire person, in fact he is currently the richest person in the world with $219 billionexceeding Jeff Bezos. Keep in mind that a large part of this wealth is made up of actions, such as the acquisition of the 47% of SpaceX for $50 billion.
Although seeing Musk’s response to the situation, we all think he’s plotting something to benefit from it. as he says Henry Blodgetfounder and CEO of Business InternElon Musk managed to sell more than $8 billion in Shares liquidated from You’re here, which were about to expire. With this, you can easily pay the fine of $1000 imposed by Twitter.
And as Elon Musk’s fantastic strategy sums it up, Twitter will now be forced to show the actual percentage bots and fake accounts in court. That said, the robots shouldn’t be the real reason for the cancellation of the purchase agreement, but the price accepted by Musk. We say that $44 billion was equivalent to $54 per sharewhile the value is currently $37 per share from Twitter.
Twitter hires elite law firm to win over Tesla CEO
Twitter President Bret Taylor has announced that the company will be taking legal action against Elon Musk. The chosen law firm was Watchell, Lipton, Rosen and Katz, which has a total of 277 lawyers according to Wikipedia, with several notable figures. Between them, Martin Liptoncreator of shareholder rights plan and the strategy ofpoison pill“. This is based on devalue the the price shares of the company, increasing the total number of Sharesmaking absolute acquisition of all more difficult.
We can also highlight as key lawyers in this dispute Guillaume Savittwho has represented companies such as anthem o Sotheby’s in Delaware court against activist investors. the other would be Leo Strineformer chancellor of Delaware Court of Chancery with 20 years of experience as judge in the courts. Moreover, he became Chief Judge of your state before joining the law firm in 2020. Why is it so important that you both work in Delaware?
Well, basically because the legal battle will take place in the Delaware Court of Chancery. Elon Musk, meanwhile, hired the law firm Quinn Emmanuel Urquhart & Sullivan, which has dealt with many known cases. For example, he defended Samsung against Apple’s patent lawsuit which claimed that Galaxy were impersonations of its iPhone. Additionally, he previously defended Elon Musk in a case where he was called “pedophile“.