Lawyers Seek $6 Billion in Tesla Stock as Fees for Voiding Musk's Pay Package
The unprecedented legal fee request follows a court ruling that voided Elon Musk's $56 billion compensation, sparking controversy and Musk's criticism.
- Lawyers who successfully contested Elon Musk's $56 billion Tesla compensation package are seeking $6 billion in legal fees, payable in Tesla stock.
- The fee request, if granted, would be unprecedented in size and make the lawyers among Tesla's top 10 shareholders.
- Elon Musk criticized the fee request as 'criminal' and reiterated his intention to move Tesla's incorporation from Delaware to Texas.
- The legal battle resulted in the return of 266 million shares to Tesla, which the lawyers argue benefited the company significantly.
- The fee request is subject to approval by Delaware Chancery Court Judge Kathaleen McCormick, who previously ruled Musk's pay package as excessive.
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