Tag

Wachtell

All articles tagged with #wachtell

businesslegal1 year ago•3 min saved

Elon Musk's Legal Battle with OpenAI Unveils Cryptic AI Prophecy

Elon Musk is suing OpenAI for allegedly breaching a founding agreement to operate as a non-profit, but OpenAI claims the agreement never existed. OpenAI has hired Wachtell to defend against Musk's lawsuit and has ridiculed his claims as "incoherent" and "frivolous." They suggest that Musk is jealous of the company's success in the AI arms race and point to evidence that Musk supported a for-profit structure for OpenAI, to be controlled by himself, and left the project when his wishes were not followed.

via Above the Law|

#ai #businesslegal #elon-musk

law2 years ago•0 min saved

Wachtell Makes Rare Lateral Partner Hire from Willkie, Tapping Former Federal Prosecutor

Wachtell, Lipton, Rosen & Katz has made a rare lateral hire by bringing on board Randall Jackson, the former co-chair of Willkie Farr & Gallagher's white-collar defense and compliance, investigations, and enforcement groups. Jackson joins Wachtell as a partner in its litigation group, marking the firm's first lateral hire in over a year.

via Law.com|

#law #lipton #litigation

business2 years ago•2 min saved

Elon Musk Takes Legal Action Against Law Firm Over Twitter Purchase

Elon Musk is suing the law firm Wachtell, Lipton, Rosen & Katz, which represented Twitter in a legal dispute with Musk over his attempt to backtrack on a deal to buy the social media company. Musk's lawsuit alleges that Wachtell lawyers persuaded Twitter's former management to agree to pay a "success fee" if Musk closed the deal, resulting in $90 million in fees arranged by the law firm. Musk's lawyers claim that Wachtell took advantage of departing executives and ran up Twitter's legal bill. Since taking over Twitter, Musk has faced financial problems, including debt from the leveraged buyout, and has implemented cost-cutting measures such as layoffs and paywalls.

via Quartz|

#business #elon-musk #lawsuit