Wachtell, Lipton, Rosen & Katz. Courtesy photo Twitter Lawsuit Alleges Wachtell Ran Up $90 Million Tab Before Musk Takeover
A complaint filed this week alleges Wachtell added a $71 million success fee to accrued hourly billables, which lame-duck in-house counsel approved against Musk's orders.
July 09, 2023 at 12:00 PM
3 minute read
The original version of this story was published on The American Lawyer
After billing less than $20 million in hourly fees for its representation of Twitter in M&A litigation against Elon Musk last year, Wachtell, Lipton, Rosen & Katz asked for and received an additional success fee in excess of $70 million in the final hours before the deal closed, a Wednesday complaint against Wachtell alleges.
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