Matt Levine is a Bloomberg Opinion columnist covering the financial markets, and he’s got a word of advice for Tesla Inc.’s Elon Musk on how to handle the Twitter Inc. buyout fallout.
It is worth mentioning that Levine is also a former mergers and acquisitions attorney at the law firm Wachtell, Lipton, Rosen & Katz—the same firm Twitter hired to sue Musk.
“If Musk signed a deal to buy a thing for $54.20, and then he refused to pay and had no good reason for backing out of the deal, and the seller had to turn around and sell the thing to someone else for $25 instead, then the seller could go to court and demand that Musk pays the $29.20 difference.” This is the normal remedy for breach of contract, called expectation damages in contract law, Levine wrote….