Elon Musk has sued the elite law firm Wachtell, Lipton, Rosen & Katz to recover most of a $90 million fee it received from Twitter for defeating his bid to walk away from his $44 billion buyout of the social media company.
The complaint by Musk’s X Corp, which owns Twitter, was filed on Wednesday in California. Musk accused Wachtell of exploiting Twitter by accepting, in the final days before the October 27, 2022, buyout closed, huge “success” fees doled out by departing Twitter executives who were grateful that Musk would be forced to close.
Musk wants to recoup “excess” fees that Wachtell charged under an agreement signed on the day of closing by one of its partners and Twitter’s chief legal officer Vijaya Gadde.
The complaint by Musk’s X Corp, which owns Twitter, was filed on Wednesday in California. Musk accused Wachtell of exploiting Twitter by accepting, in the final days before the October 27, 2022, buyout closed, huge “success” fees doled out by departing Twitter executives who were grateful that Musk would be forced to close.
Musk wants to recoup “excess” fees that Wachtell charged under an agreement signed on the day of closing by one of its partners and Twitter’s chief legal officer Vijaya Gadde.