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Lawyers who sued Tesla for overpaying want $10,690/hr; Musk reacts

Reuters · 1y ago

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A legal team that successfully sued Tesla's directors for overpaying themselves is now seeking approval for $229 million in fees, equating to $10,690 per hour, according to a court filing. If approved, it would be one of the largest fee awards resulting from a shareholder lawsuit against a board. The fees would be divided among four law firms involved in the case. In July, the directors agreed to return more than $700 million in compensation to Tesla. The proposed fee and settlement must be approved by a Delaware judge at an October hearing.