Elon Musk's Twitter sues top law firm Wachtell over $90 million fee – CNBC

Elon Musk, chief executive officer of Tesla Inc., departs court in San Francisco, California, US, on Tuesday, Jan. 24, 2023. Marlena Sloss | Bloomberg | Getty ImagesAttorneys for Elon Musk 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.Attorneys at Reid Collins and Wachtell didn’t respond to requests for comment. It’s not the first time Musk has tried to keep Twitter’s vendors from getting
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