In an unusual move, the attorneys who persuaded the Delaware Chancery Court to reject Elon Musk’s proposed $55 billion Tesla compensation package, have filed a request for legal fees. However, the twist comes in the form of the payment method – these lawyers are seeking compensation in Tesla stock, an amount that rounds off to approximately $5.6 billion.
This unprecedented request follows their successful challenge of Musk’s compensation package, which was initially set to be one of the biggest in U.S. corporate history. Their implication in holding one of the most powerful corporate figures accountable has certainly caught the attention of legal professionals worldwide.
The extent of their claim is yet to be determined by the court, bringing with it various implications on corporate governance and remuneration policies.
For more details on this intriguing development, visit the original Law360 article.