Twitter sues law firm that got $90 million in Musk deal
[ad_1]
khaskhabar.com : Saturday, 08 July 2023 11:49 AM
San Francisco. Twitter has sued a law firm representing the micro-blogging platform.
In fact, Elon Musk tried to back out of his deal to buy the platform for $44 billion.
Twitter’s previous management hired the corporate law firm after Musk tried to terminate its agreement to acquire the company last year.
Wachtel, Lipton, Rosen & Katz, the top law firm handling merger and acquisition litigation, received $90 million in fees from Twitter, which the social network said was unjust enrichment, The New York Times reported.
Twitter now wants this fee to be refunded. The lawsuit has been filed in San Francisco Superior Court by Twitter’s parent company X Corp.
The lawsuit says the law firm took funds from a cash register when the keys were being handed over to Musk, who owns X Corp.
According to documents filed with the lawsuit, Twitter’s board and executives approved the payment of $90 million because the law firm was successful in getting Musk to comply with the agreement to buy the company.
Twitter disputed other charges related to the purchase of Musk’s company.(IANS)
read this also – Click to read the news of your state / city before the newspaper
[ad_2]
Source link
