*TWITTER VOWS LEGAL FIGHT AFTER MUSK PULLS OUT OF $44 BILLION DEAL - $TWTR
Twitter's chairman, Bret Taylor https://twitter.com/btaylor/status/1545526087089696768?s=20&t=7sx_IvK_zZkztdHdh8pwQQ, said on the micro-blogging platform that the board planned to pursue legal action to enforce the merger agreement.
"Twitter is in material breach of multiple provisions of that Agreement, appears to have made false and misleading representations upon which Mr. Musk relied when entering into the Merger Agreement," the filing said. Twitter, however, is hoping that court proceedings will start in a few weeks and be resolved in a few months, according to a person familiar with the matter.
Twitter's shares surged after Musk took a stake in the company in early April, shielding it from a deep stock market sell-off that slammed other social media platforms.
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