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Twitter lawyers say Elon Musk’s deal termination is invalid.

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Twitter Inc.’s lawyers called Elon Musk’s termination of his $44 billion buyout agreement “invalid and wrongful” in a letter to the billionaire’s attorneys, a preliminary step by the social network in the looming legal battle over the deal.

Twitter lawyer William Savitt, of Wachtell, Lipton, Rosen & Katz, wrote to Musk’s lawyers at Skadden Arps Slate Meagher & Flom LLP, saying that backing out of the deal “constitutes a repudiation of their obligations under the agreement,” according to a copy of the July 10 letter filed with the Securities and Exchange Commission.
12 Jul 2022 4AM English South Africa Business News · Investing

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