Reported about 1 year ago
During a court hearing, lawyers representing Tesla shareholders challenged the $7 billion legal fee awarded to three law firms who successfully challenged Elon Musk's $56 billion pay package. The attorney for the shareholder argued that the fee provides an incentive for lawyers to hold corporate boards accountable. The legal battle stemmed from a January ruling that rescinded Musk's pay package, with varying arguments presented regarding the amount of the fee that should be awarded, ultimately leading to a dispute regarding corporate governance and shareholder protection.
Source: YAHOO