Tesla shareholders' lawyers seek to be paid over $7 billion in legal fees in the form of company stock
ChainCatcher news, a judge in Delaware heard arguments from lawyers regarding the massive compensation demands made by Tesla CEO Elon Musk, with these lawyers arguing that Musk's enormous pay is illegal and should be voided.
A Tesla shareholder questioned Musk's 2018 compensation plan, with their lawyer requesting Judge Kathaleen Saint Jude McCormick to rule that legal fees be paid to them in the form of Tesla stock, which, at current trading prices, is valued at over $7 billion. The 2018 Musk compensation plan, which was overturned by the judge, could be worth over $55 billion.
After a full day of expert witness testimonies and lawyer debates, McCormick did not indicate when she would rule on the fee request.
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