Elon Musk’s Twitter Takes on Legal Giants Over Controversial Fees and Trade Secrets

In a dramatic legal showdown, Elon Musk’s X Corp., the parent company of Twitter, has filed a lawsuit against heavyweight merger law firm Wachtell, Lipton, Rosen & Katz LLP over what they call “unconscionable” legal fees charged during a critical time. The suit seeks to recoup any excess fees and attorney’s fees from the staggering $90 million Twitter paid in 2022 to secure Musk’s $44 billion deal to buy the platform. According to Reuters and CNBC, the suit alleges that Wachtell took advantage of the takeover situation and “lined its pockets with funds from the company cash register while the keys were being handed over.” X Corp’s anger stems from the “success” fees paid by departing Twitter executives in the days leading up to Musk’s takeover. They argue that the $90 million fee was unreasonable, considering the firm had initially charged less than a third of that amount during the first few months of their engagement. <a href="https://medium.com/@nickelpie/elon-musks-twitter-takes-on-legal-giants-over-controversial-fees-and-trade-secrets-b0ee774a5b09">Read More</a>