Beijing time on July 12 news, Twitter company lawyers wrote in a letter to Elon Musk’s lawyers, saying,Musk’s call to terminate $44 billion buyout deal is ‘invalid and wrong’. This is a preparatory step for the social network to sue Musk.
▲ Musk
William Savitt of the law firm Wachtell, Lipton, Rosen & Katz wrote to Musk’s lawyers at Skadden, according to a copy of the letter that Twitter filed with the SEC on July 10. ,Exiting the transaction is a “refusal to perform a contractual obligation”.
“Twitter has not violated any of its obligations under the agreement,not and is unlikely to suffer a material adverse effect,” Savitt said, “Twitter reserves all contractual, legal and other rights, including the right to specifically enforce the contractual obligations of Musk’s party. “
The acquisition agreement clearly stipulates that,Any legal disputes over the deal must be heard in Delaware. As of Monday’s close, neither side had filed a lawsuit over the shaky deal.
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