Photo: Diego M. Radzinschi/ALM Wachtell's Billing Practices Brought to Light in Twitter Fee Lawsuit
The firm gets paid 60% to 80% of investment banks working on the same deals and two to three times its billable rate on "premium-billing" litigation matters, according to a court filing.
July 11, 2023 at 05:00 AM
5 minute read
Lawyer Rates and Arrangements
In addition to charging hourly fees on par with top Wall Street law firms, Wachtell, Lipton, Rosen & Katz routinely charges success fees that rival the fees of investment banks in merger and acquisition transactions, according to an email Wachtell partner William Savitt sent to Twitter's in-house counsel on the eve of Elon Musk's takeover of the company.
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