The firm, which represented Twitter as Musk tried to back out of his deal to buy Twitter, received a $90 million fee for getting the deal over the finish line, according to The New York Times. Elon Musk’s Twitter alleges the payment is “unjust enrichment” and wants the fee to be returned. The NYT uploaded a PDF of the lawsuit, if you want to read it yourself.

The firm, which represented Twitter as Musk tried to back out of his deal to buy Twitter, received a $90 million fee for getting the deal over the finish line, according to The New York Times. Elon Musk’s Twitter alleges the payment is “unjust enrichment” and wants the fee to be returned.

  • SeaOtterEnglish
    1·
    1 year ago

    It’s definitely not a bank giveaway - the bank group is likely furious. They are hung with $13bn of debt, that is not sellable, and worse, has virtually no pathway to be sellable in the near future. It’s tough to figure out where this debt would be marked, but I would guess the Street has unrealized losses in the $3-5Bn range.