Adani appoints legal firm that represented Twitter in Elon Musk's $44-billion deal: Know all about Wachtell

The Adani Group, the second-largest conglomerate in India and one of the richest men in the world Gautam Adani, has been alleged of extensive fraud and mismanagement by an investment research organization. To counter claims of fraud and market manipulation made by the short-seller Hindenburg Research, based in America, Gautam Adani has appointed one of the most expensive legal firms.

The Financial Times reported that the attorneys for the Adani Group at the Cyril Amarchand Mangaldas firm contacted Wachtell. Gautam Adani's oldest son is married to Cyril Shroff's daughter, according to the Financial Times, who runs the Indian company.

Here is everything you need to know about Wachtell, law firm hired by Gautam Adani:

A small group of attorneys in New York established Wachtell Lipton in 1965. This company was founded by former NYU classmates Herb Wachtell, Martin Lipton, Leonard Rosen, and George Katz. The company is known for taking on challenging legal and regulatory cases.

The law firm asserts to have expertise in the following areas: corporate and securities law; mergers and acquisitions; strategic investments; takeovers and takeover defence; shareholder activism. It has a history of developing novel ideas and developments that have had a significant influence on law and business. Between 500 and 1,000 people work for the Wachtell law firm, according to the company's LinkedIn profile.

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According to Wachtell, it has been a key player in a number of high-profile and high-stakes cases, including litigation arising from the unfortunate 9/11 attacks and the US economic collapse.

After the tragedy of 9/11, Wachtell represented the World Trade Center's leaseholder in two jury trials with its asset insurers, assisting it in obtaining the funding necessary to reconstruct the site. The law firm is well-known for representing boards, audit committees, and special committees tasked with performing in-depth research in response to complaints from the public or inquiries from the government, Livemint reported.

Firm also handled Elon Musk, Twitter $44 billion deal:

In order to compel Elon Musk to finalise the $44 billion purchase of the social media company, Twitter Inc. appointed Wachtell to file a lawsuit against him. Previously, Wachtell was a member of a group that defended Musk and the board of Tesla Inc. in a lawsuit by Tesla shareholders regarding the electric vehicle manufacturer's $2.6 billion purchase of the solar panel manufacturer SolarCity. According to court records, Musk's Wachtell attorneys left the case in 2019.

Awards:

Wachtell was honoured in March 2021 with the Yale Law Women's Top Firms for Gender Equity & Family Friendliness Report's Top Firm award in the Covid-19 Response category and Honorary achievement in the Training & Mentorship category. The business was acknowledged as one of the Top Firms for Inclusion Initiatives in 2020. It earned category honours for Leadership & Promotions during the same report in 2018.

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