Twitter To Fight Elon Musk, Hires Firm Who Invented Poison Pills
Twitter resorted to legal counsel. According to reports, the company hired Wachtell, Lipton, Rosen & Katz. This firm is well-known enough to have its own Wikipedia page.
Martin Lipton, a founding partner, was credited with inventing shareholder rights or the "poison pill defense" that Twitter used initially to stop Musk's attempt to the buyout.
Elon Musk filed Friday a document in an attempt to cancel his $44 million takeovers of Twitter.
Bret Taylor, Twitter's chairman, tweeted that the company would take legal action to cancel the deal.
Bloomberg reported that Wachtell Lipton was hired by Twitter to represent the company in the Delaware Court of Chancery.
Musk did not respond to questions during his appearance at the Sun Valley Conference, but he did answer them via Twitter.
Twitter has hired two lawyers to help it. William Savitt is a Delaware lawyer representing Anthem and Sotheby's against activist investors.
Leo Strine is the other, a former Chancery Court Chancellor with 20 years of experience as a judge in Delaware's courts. He ended his career as Chief Justice of the state Supreme Court before joining the firm in 2020.
Musk is said to have hired Quinn Emanuel Urquhart & Sullivan, which also has received the Wikipedia treatment and may be more familiar to all.
They are responsible for Samsung's defense against Apple's patent lawsuit alleging that the Galaxy devices were simply a copycat iPhone.
They also defended Musk in his "pedo man" defamation case and in the aftermath of his tweet about "funding secured" Tesla taking private in lawsuits against the SEC.