Litigation & Arbitration
Oct. 18, 2023
Wachtell forces X to arbitrate dispute over $90M legal bill
X claims that the hourly fees the firm earned for the Twitter sale totaled $17.9 million but that the “success fee” the firm received after Elon Musk was forced to complete the purchase was unconscionable.
Wachtell, Lipton, Rosen & Katz secured a key victory on Tuesday in its fee dispute with X Corp. after a San Francisco judge compelled arbitration in the company's lawsuit seeking to void $90 million worth of fees former Twitter executives paid the firm to force Elon Musk to buy it.
Superior Court Judge Richard B. Ulmer's minute order on Tuesday stays the litigation and sends the case to an independent arbitrator to decide whether the ar...
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