In a legal drama worthy of a blockbuster, Wachtell Lipton Rosen & Katz, an esteemed New York law firm, is locked in a fierce battle with tech behemoth X Corp. (formerly Twitter). The epicenter? A whopping $90 million fee Wachtell allegedly amassed assisting X Corp. fend off Elon Musk’s attempt to renege on his monumental $44 billion acquisition.
On a tempestuous Friday, Wachtell, armed with a motion, underscored that their existing agreement with X Corp. clearly mandates arbitration for such disputes. Drawing an analogy to a playbook, the firm emphasized that this legal contest “should’ve been benched” before even stepping into the courtroom. They petitioned to steer the matter towards arbitration, holding it in suspense until alternative resolution discussions culminate.
Twitter Fee Suit : What’s in the Fine Print?
Wachtell contended, “The core grievance here doesn’t challenge the backbone or legitimacy of our master retention pact, particularly its arbitration section.” In a move akin to laying down a trump card, the firm noted the agreement was unambiguously “binding.”
