{"id":1969584,"date":"2023-07-11T12:34:02","date_gmt":"2023-07-11T16:34:02","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/elon-musk-sues-twitters-former-law-firm-he-noticed-where-90-million-went-right-before-he-bought-company\/"},"modified":"2023-07-11T12:35:04","modified_gmt":"2023-07-11T16:35:04","slug":"elon-musk-sues-twitters-former-law-firm-he-noticed-where-90-million-went-right-before-he-bought-company","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/elon-musk-sues-twitters-former-law-firm-he-noticed-where-90-million-went-right-before-he-bought-company\/","title":{"rendered":"Elon Musk sues ex-law firm over $90M before acquisition."},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">18<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Felon-musk-sues-twitters-former-law-firm-he-noticed-where-90-million-went-right-before-he-bought-company%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1969584&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><h2>The Kids Went Wild with Dad&#8217;s Credit Card<\/h2>\n<p>It was a day of excitement and mischief when the kids got their hands on their new dad&#8217;s credit card. They went on a shopping spree, buying all the things they had been dreaming of.<\/p>\n<h2>Elon Musk Takes Legal Action Against Twitter&#8217;s Former Law Firm<\/h2>\n<p>Elon Musk&#8217;s X Corp. has filed a lawsuit against Wachtell, Lipton, Rosen &#038; Katz, the law firm that represented Twitter during Musk&#8217;s attempt to take the company private. The lawsuit accuses the firm of unethical behavior and seeks to recoup the <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/elon-musk-sues-twitters-former-law-firm-he-noticed-where-90-million-went-right-before-he-bought-company\/\" title=\"Elon Musk sues ex-law firm over M before acquisition.\">exorbitant fees charged<\/a> for defeating Musk&#8217;s buyout of Twitter.<\/p>\n<h3>The Lawsuit Alleges Excessive Fees and Unethical Conduct<\/h3>\n<p>The lawsuit, filed in California Superior Court, claims that Wachtell charged a staggering $90 million fee for its services, which represented nearly 10% of the firm&#8217;s gross revenue in 2022. The lawsuit accuses Wachtell of disregarding California law and its ethical and fiduciary duties in order to solicit this excessive fee.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p dir=\"ltr\" lang=\"en\">FRAUD: Former Twitter execs conspired to empty the company\u2019s bank accounts after <a href=\"https:\/\/twitter.com\/elonmusk?\">@elonmusk<\/a> agreed to close the transaction. For example, in one scheme, execs gave the company\u2019s lawyers a $90M bonus! Musk is suing to get the fraudulent bonus back. <a href=\"https:\/\/t.co\/qlelCCYWvg\">https:\/\/t.co\/qlelCCYWvg<\/a><\/p>\n<p>\u2014 @amuse (@amuse) <a href=\"https:\/\/twitter.com\/amuse\/status\/1677437697118416896?\">July 7, 2023<\/a><\/p>\n<\/blockquote>\n<h3>Seeking Equitable Remedies<\/h3>\n<p>The lawsuit does not seek compensatory damages but rather aims to obtain restitution, fee forfeiture, and disgorgement of legal fees as equitable remedies.<\/p>\n<h2>Does Musk Have a Winning Case?<\/h2>\n<div id=\"firefly-poll-container\" class=\"one-half\">\n<div class=\"firefly-poll-question\">Does Musk have a winning case against this law firm?<\/div>\n<div id=\"pollFormBox\" style=\"display: none\">\n<ul>\n<li><label><input type=\"radio\" name=\"answer\" value=\"yes\">Yes<\/label><\/li>\n<li><label><input type=\"radio\" name=\"answer\" value=\"no\">No<\/label><\/li>\n<\/ul>\n<div class=\"firefly-poll-disclaimer\">\n\t\t\tCompleting this poll entitles you to The Western Journal news updates free of charge. You may opt out at anytime. You also agree to our <a href=\"https:\/\/www.westernjournal.com\/about\/privacy-policy\/\">Privacy Policy<\/a> and <a href=\"https:\/\/www.westernjournal.com\/about\/terms-service\/\">Terms of Use<\/a>.\n\t\t<\/div>\n<\/p><\/div>\n<div id=\"firefly-poll-results\" style=\"display: none\">\n<div id=\"firefly-poll-results-yes\" style=\"width: 100%\">\n\t\t\tYes: 100% (8 Votes)\n\t\t<\/div>\n<div id=\"firefly-poll-results-no\" style=\"width: 0%\">\n\t\t\tNo: 0% (0 Votes)\n\t\t<\/div>\n<\/p><\/div>\n<\/div>\n<h2>Twitter&#8217;s Turbulent Acquisition<\/h2>\n<p>After initially agreeing to acquire Twitter, Musk raised concerns about the platform&#8217;s lack of disclosure regarding spam and fake accounts. In response, Twitter filed a lawsuit against Musk for failing to fulfill his commitment to the company&#8217;s shareholders. Eventually, Musk proceeded with the purchase at the agreed-upon price.<\/p>\n<blockquote class=\"twitter-tweet\" data-conversation=\"none\">\n<p dir=\"ltr\" lang=\"en\">Some very strong allegations here of Twitter\u2019s former senior management before Musk took over:<\/p>\n<p>\u201cX Corp. claims that by arranging to bill Twitter its hourly rates instead of taking the case on a contingency basis, Wachtell \u201cundertook absolutely no risk in obtaining its mammoth\u2026<\/p>\n<p>\u2014 Tim (@CitizenYvr) <a href=\"https:\/\/twitter.com\/CitizenYvr\/status\/1677737943518310400?\">July 8, 2023<\/a><\/p>\n<\/blockquote>\n<p>Wachtell allegedly charged excessive fees under an agreement signed by Vijaya Gadde, Twitter&#8217;s <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/top-democrat-senator-urges-biden-to-reverse-on-keystone-pipeline-14-ags-threaten-legal-action\/\" title=\"Top Democrat Senator Urges Biden To Reverse On Keystone Pipeline, 14 AGs Threaten Legal Action\">chief legal officer<\/a>. Gadde&#8217;s involvement in controversial actions, such as the coverup of Hunter Biden&#8217;s laptop, has raised further questions about her conduct.<\/p>\n<p>While the <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/oklahoma-approves-first-religious-charter-school-in-united-states\/\" title=\"First religious charter school approved in Oklahoma.\">legal battle unfolds<\/a>, it appears that Gadde made a last-minute decision to give a $90 million &#8220;success&#8221; fee to Twitter&#8217;s lawyers, emptying the company&#8217;s coffers on her way out. These actions, along with other questionable behavior by Twitter staff, have undermined free and open discourse in the United States.<\/p>\n<p>Musk&#8217;s involvement has brought about a much-needed change, as he has taken steps to restore trust in the platform by ending censorship and shedding light on the company&#8217;s internal workings.<\/p>\n<p>However, standing up for the First Amendment has come at a cost for Musk. He shouldn&#8217;t have to pay for the actions of disgruntled or unethical employees looking to harm him.<\/p>\n<p>The post <a rel=\"nofollow\" href=\"https:\/\/www.westernjournal.com\/elon-musk-sues-twitters-former-law-firm-noticed-90-million-went-right-bought-company\/\">Elon Musk Sues Twitter&#8217;s Former Law Firm &#8211; He Noticed Where $90 Million Went Right Before He Bought Company<\/a> appeared first on <a rel=\"nofollow\" href=\"https:\/\/www.westernjournal.com\">The Western Journal<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Elon Musk&#8217;s X Corp. has sued Wachtell, Lipton, Rosen &amp; Katz, the law firm that represented Twitter during his privatization attempt. The lawsuit, filed in California Superior Court, accuses the firm of &#8220;unconscionable&#8221; actions. Reuters reported the news, highlighting the kids&#8217; extravagant use of the new dad&#8217;s credit card.<\/p>\n","protected":false},"author":2105,"featured_media":1969585,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_image_alt":"","footnotes":""},"categories":[548],"tags":[],"class_list":["post-1969584","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-conservative-news-daily"],"fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1969584","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/2105"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1969584"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1969584\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/1969585"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1969584"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1969584"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1969584"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}