Twitter headquarters in San Francisco. Photo: Jason Doiy/ALM Twitter Suit Blames 'Disgruntled' Legal Execs for Massive Wachtell Payout
"Wachtell exploited a corporate client left unprotected by lame-duck fiduciaries who had lost their motivation to act in Twitter's best interest," Twitter's lawsuit alleges.
July 10, 2023 at 11:12 AM
7 minute read
Twitter's former legal chiefs are not defendants in Elon Musk's sharply worded lawsuit against Wachtell, Lipton, Rosen & Katz, but the 33-page court filing contains plenty of venom directed at them.
The suit, filed last week in San Francisco Superior Court, alleges then-chief legal officer Vijaya Gadde and then-general counsel Sean Edgett raced last October to complete an "unconscionable" $84 million payment to outside counsel Wachtell, a process they completed just 10 minutes before Musk wrapped up his $44 billion purchase of Twitter and fired the pair.
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