Sighting Musk-ets

Twitter legal posse

Twitter is assembling a high-profile legal team to sue Elon Musk for terminating his $44 billion deal to buy the platform, a report said on Sunday.

The social-media giant aims to file suit against the Tesla and SpaceX CEO — who backed out of the takeover Friday — early this week in Delaware, where the company is registered, Bloomberg News reported.

Twitter has hired the law firm Wachtell, Lipton, Rosen & Katz, which is known for its work in mergers.

If successful, the company could force Musk to pay a $1 billion breakup fee, according to Bloomberg News.

Musk backed out of the deal to buy Twitter after the company failed to provide information about fake accounts on its platform, court documents filed by his team claimed.

His attorneys alleged in a court filing Friday that “Twitter is in material breach of multiple provisions” of the buyout deal, and that the company “appears to have made false and misleading representations upon which Mr. Musk relied when entering into the Merger Agreement.”

The billionaire has retained Quinn Emanuel Urquhart & Sullivan, a highprofile firm that he has worked with before, according to Bloomberg.

Musk secured a $44 billion deal to take over Twitter in April, but put the buyout on hold until the company proved that spam and bot accounts made up fewer than 5% of users who see advertising on the site.

Musk’s younger sister, Tosca Musk, 47, told the Sunday Times in an interview published Saturday that she believed her brother would follow through on the Twitter deal.

“If he says he’s going to do it I would believe that he’s going to do it,” Tosca said.

Insiders have speculated that Musk reneged on the deal because he is now paying a massive premium for the company as a result of the tech-stock correction.