Twitter lawyer up. The company allegedly hired Wachtell, Lipton, Rosen & Katz, a company that is remarkable enough to have its own Wikipedia page, and a founder, Martin Lipton, was credited with inventing the shareholder rights plan or “poison pill” defense that Twitter originally used to put the brakes on Musk’s acquisition attempts.
On Friday, Elon Musk submitted a document in an attempt to cancel his $ 44 billion takeover of Twitter. In response, Twitter chairman Bret Taylor tweeted that the company would pursue legal action to close the deal as agreed. Wachtell Lipton̵[ads1]7;s employment, as reported by Bloomberg, suggests that Twitter is serious about arguing its case in the Delaware Court of Chancery.
Twitter hired two key lawyers for its team. One is William Savitt, who has represented companies such as Anthem and Sotheby’s in the Delaware Court against activist investors. The other is Leo Strine, a former chancellor at the Delaware Chancery Court with 20 years of experience as a judge in state courts, and ending a term as chief of the state Supreme Court before joining the firm in 2020.
Musk is said to have hired Quinn Emanuel Urquhart & Sullivan, who has also received the Wikipedia treatment, and who is perhaps more familiar with Verge readers. It handled Samsung’s defense against Apple’s patent lawsuit claiming that the Galaxy devices were just a copy of the iPhone, and has defended Musk in the past, in its “pedo guy” defamation case, as well as in the wake of his “finance-secured” tweet about taking Tesla private. in cases against the SEC and an ongoing shareholder lawsuit.