According to sources familiar with the matter, the company has hired a law firm to file a lawsuit against Musk over his decision to walk away from the deal.
The case will be tried in the Delaware court system because of the firm's expertise in merger litigation. The sources said that a lawsuit would be filed against the CEO of the company.
Musk will be represented by a New York law firm. A defamation trial was won by the law firm.
Insider's request to comment was not immediately responded to by representatives for the two companies.
The board said in a statement that it was committed to closing the transaction at the price and terms agreed upon and that it would be pursuing legal action to enforce the deal.
The board said they were confident they would prevail in the court.
In recent weeks, Musk has objected to the data and methods used to estimate the number of fake accounts. His lawyers argue that he didn't waive his right to inspect the information when he chose not to.
According to the lawyers, Musk's analysis shows that the percentage of false accounts is much higher than the company says.
According to legal experts, Musk is facing a huge legal fight as he tries to walk away from the deal.
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