Daily Archives: July 8, 2023, 7:58 am

Twitter Sues Law Firm Over $90 Million Payment in Elon Musk Deal – The New York Times

According to documents submitted with Friday’s lawsuit, Twitter’s board and executives approved the $90 million payment because Wachtell Lipton and one of its lawyers, William Savitt, had succeeded in making Mr. Musk abide by his agreement to buy the company. By approving the payment, Twitter’s former executives and board breached their fiduciary duty, the lawsuit said. Twitter’s board rushed to…

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Coinbase Knew It May Have Been Violating the Law Prior to the SEC’s Lawsuit, Regulator Claims

Coinbase’s own public filings also note that one potential risk to Coinbase investors include the fact that listed assets might be considered securities. “These actions clearly show that Coinbase understood that the securities laws could apply to its conduct and knew which rules to consider in evaluating the legality of its conduct, but nevertheless made the calculated decision to take…

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