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X Corp, the parent company of Twitter, the legal case against Wachtel, Lipton, Rosen & Cutts (WLRK) has launched and accused this law firm of receiving excessive money.
when Elon Musk Intending to abandon its $40 billion bid to buy Twitter, WLRK appeared in court on Twitter’s behalf. Finally, after efforts by WLRK’s lawyers, Twitter forced Elon Musk to finalize the deal, and Twitter paid WLRK $90 million.
Twitter paid $84.3 million from the contract signed with WLRK, which was considered a “success fee” in the case, on October 27, 2022 (November 5, 1401); That is, the same day that Elon Musk announced that he owned Twitter.
to report single spot, X Corp Says $90 Million Fee Was WLRK’s Exploitative Action; Especially considering that such a salary was received only for a few months of service.
According to X Corp, WLRK was paid a “success fee” along with a $16 million hourly fee for the service. Elon Musk’s company is now trying to recover from the company all the additional fees and costs related to the proceedings that it paid to WLRK’s lawyers.
Leaked documents show that a former Twitter board member was surprised by the salary set by WLRK; However, the board of directors finally approved the payment of this salary.
X Corp. Holdings has accused WLRK of unjust enrichment, breach of fiduciary duty, aiding and abetting a breach of fiduciary duty, and violating the California Business and Professions Act.
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