Elon Musk tried to pay himself $51 billion out of Tesla, a Delaware court told him absolutely not, and now the lawyers who won the block on his self-dealing package—representing Tesla shareholders—want their cut of the money they saved Tesla. It's an eye-popping $6bn in stock.
"We recognize that the requested fee is unprecedented in terms of absolute size," the three law firms said in a filing with the Court of Chancery in Delaware. The fee works out to an hourly rate of $288,888, they said. … The company (TSLA.O), opens new tab would pay the lawyers who represented Richard Tornetta, a shareholder who sued Musk in 2018 over the pay package, which a Delaware judge nixed in January.
Musk, who is in the process of moving Tesla's corporate domicile from Delaware to Texas for reasons obvious to anyone familiar with Elon Musk, is upset.
The lawyers who did nothing but damage Tesla want $6 billion. Criminal.
They did do something more than that, though, didn't they? They blocked Elon Musk's $51bn pay package.
