Elon Musk has sued the elite law firm Wachtell, Lipton, Rosen & Katz to recover most of a $90 million fee it received from Twitter for defeating his bid to walk away from his $44 billion buyout of the social media company.
The complaint by Musk’s X Corp, which owns Twitter, was filed on Wednesday in the California Superior Court in San Francisco.
Musk accused Wachtell of exploiting Twitter by accepting, in the final days before the October 27, 2022, buyout closed, huge ‘success’ fees doled out by departing Twitter executives who were grateful that Musk would be forced to close.
The world’s richest person, who also runs Tesla Inc and SpaceX, called the $90 million payout ‘unconscionable,’ given that Wachtell had billed less than one-third that sum for its few months of work on the Delaware lawsuit.
