As Elon Musk prepares to go toe-to-toe with legal giant Wachtell, Lipton, Rosen & Katz over $90 million in billed fees, this high profile case raises several questions about outcome-based legal fees and how corporate legal teams determine a fair and reasonable price in sourcing their outside counsel.
Did Wachtell overstep in their mad scramble to bill a $60 million premium right before Musk closed his Twitter acquisition?
Did the board abdicate their duty to shareholders by not questioning Wachtell’s terms?
How will this impact how the legal industry measures the value of legal services in the future?
Jim Delkousis chimes in with his thoughts on why Musk’s suit matters to the legal industry, and not necessarily for the primary reasons that it’s making headlines.
Join us as we discuss:
- 3 big questions the lawsuit raises (3:01)
- Justifying ROI and determining market value (8:04)
- Who was looking out for Twitter’s best interests (12:56)
Check out these resources we mentioned during the podcast:
- Wachtell, Lipton, Rosen & Katz
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