Photo: Diego M. Radzinschi/ALM Twitter Fee Lawsuit Brings Wachtell's Billing Practices to Light
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
The original version of this story was published on The American Lawyer
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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