Elon appears to be fed up with Twatter. He’s been that way for a while, but now that Facebook is launching Threads, I think he sees the writing on the wall and spends most of his waking hours seething. He’s coping by suing the law firm that represented Twitter when he purchased the unprofitable company for the absurd sum of $44 billion.
The lawfirm he’s suing is called “Wachtell, Lipton, Rosen & Katz.”
To no one’s surprise, Devon James Stone, the man behind the pseudonym “LegalEagle,” has this to say in the blurb underneath the video.
No good guys in this story.
Devon Stone is clearly a shitlib, but not a completely blinkered ideologue. Below he can be seen completely defending Judge Schroeder, the man who presided over the Rittenhouse case, and it shows that he values his legal reputation more than pushing an agenda. I trust his legal opinion quite a bit.
In fact, he already has a video, seen below, on Elon’s doomed and childish attempted pullout of the twitter deal. Clearly, he was right about that one. In fact, Musk’s legal argument in the current case is that his failed attempt to pull out of the deal he agreed to was so amateurish that the lawfirm representing Twatter wasn’t entitled to huge compensation because beating him in court was so straightforward. We’ll get there later.
The essence of the current case is that Elon “Nuke Mars” Musk is angry that twitter gave the lawfirm of Hymie, Schlomo, David, and Shmuely $90 million dollars for a “success” fee after they successfully got Elon, who was trying to back out of the deal, to honour his end of the bargain. A success fee is normal. What’s not normal was this fee being agreed to only after the deal had gone through.
It doesn’t take a genius to figure out what happened. Twitter decided to stick it to Musk by paying their lawfirm a bonus of $90 million.
Now according to the complaint, on October 27th “the firm’s work on the merger litigation in the Delaware Chancery Court already concluded, and without any foreseeable need for Twitter to utilize its services again,” Wachtell, the law firm, decided to milk the company for $90 million in success fees.
Musk says “In other words, Wachtell sought and obtained a success fee that resulted in a total fee nearly six times its $15.6 million in invoiced hourly fees for a few months’ work, even though (1) it was not called for by any prior agreement with Twitter, and (2) the litigation in which Wachtell represented Twitter had been stayed for weeks in anticipation of dismissal following the closing.”
In other words, the lame duck leadership of Twitter had no real compulsion to give the law firm $90 million. They did so because it wasn’t their money.
This is obviously what happened. The question is whether Musk has legal grounds to get his money back. That’s not entirely clear, but what is clear is that Musk is a dipshit.
To prove his point Musk states that the work the lawyers did wasn’t particularly hard, since it was just a garden variety contract dispute.
*Quotes from the lawsuit*
“There were not novel or difficult questions of law involved, nor did the litigation require any special skills beyond that which Twitter could have procured by paying hourly rates to many other reputable law firms with experience litigating in the Delaware Chancery Court, including those hired to work alongside Wachtell.”
Now this argument is particularly hilarious, because Musk is actually admitting that the legal questions weren’t that difficult because he really didn’t have any legal basis for backing out of the deal. Basically that his litigation was frivolous.
His argument in this case is that his own lawsuit in the previous case was frivolous.
Elon Musk is a bullshitter, and he’s been so rewarded for his pseudo-genius over the years, whether that be his electric vehicles, solar panel rooftops, Mars by 2022, the Hyperloop, or any other one of this dumbass non-inventions, that he’s been conditioned to believe that he can bullshit his way through anything. His legal argument for backing out of the deal was just one step above Sovereign Citizen nonsense. He flat out did not have legal standing, and he himself references this when suing (((Wachtell, Lipton, Rosen & Katz))). It’s like he had a constantly online legal strategy.
I hate with a passion twatter’s former leadership, but I hate Mr. Fake Free Speech as well. I don’t know who will prevail in this case, but it hinges on the notion of consideration. Basically this means that you can’t have a contract where only one party benefits. Musk’s argument is that the legal work had already been done, so Twitter can’t be held to their side of the contract. But as Devon Stone points out, the lawfirm need only claim to have given some vague last minute advice to justify receiving compensation.
Just keep in mind, Elon is going through all of this just to have his twatter increase censorship over the old twatter. This makes it even more politically harmful to us, and ensures that it has no competitive advantage over Facebook Threads. He spent $44 billion to continue have twitter being owned by the (((ADL))).
No one has done more to destroy the manufactured image of the genius tech billionaire more than Elon Musk. For that I am grateful.