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Elon Musk’s lawyers have filed a lawsuit against the law firm that represented Twitter when Musk tried to buy the company last year.
Wachtell, Lipton, Rosen and Katz, Twitter’s company before Musk acquired it, racked up a $90 million legal bill “at the last minute,” the lawsuit alleges.
“Aware that no one with a vested interest in Twitter’s financial well-being was running the business, Wachtell made sure he practically lined his pockets with company coffers while handing over the keys to the Musk parties according to Musk’s lawsuit.
Wachtell represented Twitter after Musk tried to withdraw his original offer to take Twitter private for $44 billion. The deal finally closed in November 2022, and Wachtell was paid $90 million for his work.
X Corp., Twitter’s holding company, is seeking reimbursement of “all related excess fee payments” and attorneys’ fees associated with litigation costs. Musk’s company is represented by Reid Collins & Tsai, a litigation boutique based in Austin, Texas.
Attorneys for Reid Collins and Wachtell have not commented publicly on the lawsuit.