The lawsuit seeks to recover the full fee, which Musk's lawyers argue was unwarranted and excessive.
Attorneys for Elon Musk sued Wachtell, Lipton, Rosen & Katz earlier this week, seeking to recover $90 million in legal fees that Musk's Twitter claims were unwarranted and excessive.
Wachtell secured the multimillion-dollar fee for its work in compelling Musk to complete the Twitter takeover last year.Elon Musk, chief executive officer of Tesla Inc., departs court in San Francisco, California, US, on Tuesday, Jan. 24, 2023.filed suit this week against the law firm that represented Twitter when Musk was trying to take the company private last year, claiming the firm charged too much for its work.
The lawsuit says Wachtell, Lipton, Rosen, and Katz, which was Twitter's firm prior to Musk's acquisition, racked up a $90 million "last minute" legal bill. Wachtell represented Twitter after Musk reneged on his initial offer to take Twitter private for $44 billion. The law firm helped close the deal in November 2022, and was paid that $90 million fee for its work securing the transaction, which was tendered at a significant premium to Twitter's public market valuation.
X Corp., Twitter's holding company, is seeking repayment of "any associated excess fee payment" and attorneys' fees associated with the cost of litigation. Musk's company is represented by Reid Collins & Tsai, a litigation boutique based in Austin, Texas.It's not the first time Musk has tried to keep Twitter's vendors from getting paid.
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