this post was submitted on 18 Jul 2023
95 points (96.1% liked)
RealTesla
471 readers
19 users here now
- Posts must be about Tesla, EV, or AV
- Meta Posts must be pre-approved.
- Shitposts are limited
- No Elon Worship
- All Links must include the original title of the Content
- Sites behind Paywalls must have text included.
- Don't be an asshole
- No Image Posts
founded 1 year ago
MODERATORS
you are viewing a single comment's thread
view the rest of the comments
view the rest of the comments
Honestly, as much as Musk is visibly deranged these days, he may have a point with this one. That law firm apparently charged Twitter a success fee of somewhere around 60 million dollars after they won that case, even though there seems to have been no prior agreement about a success fee. It seems as if the old board of Twitter only paid, because at that point, they no longer cared what would happen to Twitter's finances. If the law firm can dig up an agreement on that, though, it seems like Musk will be out of luck.
The more interesting part, IMHO, is that Musk argues they never should have charged as much as they did because that case was so simple and straight-forward, it never required any great innovation on the side of the lawyers, just routine work. Which is a bit of a self-own, if you consider that he himself was the counter party that suit...
Edit: Musk, not Trump. No idea how I confused the two names there...
He literally has no point - the video says as much too. It’s very much standard practice for rates to go up upon success & why shouldn’t it? Many class action lawsuits work on the same concept but to an even worse degree. The lawyers might get nothing but if it works then they get their pay day. In this case they were paid hourly plus a percentage upon successfully closing the deal that they wouldn’t have been involved in had it not been for him.
He should have considered the possibility of that added expense on twitters books before trying to back out in a hopeless cause.