Bancroft Family Balks At $10M Wachtell Fee

Law360, New York (December 18, 2007, 12:00 AM EST) -- Though the acquisition of Dow Jones by Rupert Murdoch's News Corp. has long been completed, several battles related to the takeover rage on, including an increasingly heated debate over the $10 million fee demanded by law firm Wachtell Lipton Rosen & Katz.

Wachtell Lipton, which represented the Bancroft family, who owned the controlling interest in Dow Jones before selling it to Murdoch, has billed the family for $10 million for its services during the deliberations about the sale.

But rather than submit an invoice broken down...
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