The lawyers who initially shot down Tesla's salary package for director Elon Musk will now be paid with shares in the car brand.
The army of lawyers who initially prevented Tesla from giving Elon Musk the absolute largest salary package in the automotive industry now wants to be paid for it.
And it's not small things they demand. In fact, the 37 lawyers want payment in the form of 29 million shares in Tesla.
This corresponds to 7.2 billion dollars or 50 billion kroner. Or… a time melon of a total of DKK 2.5 million.
Carscoops writes that.
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But even if the case, which the lawyers claim to have spent 5 years on, ended with Tesla still giving Elon Musk the insanely high salary, the case is not necessarily over yet. Now the lawyers who challenged the Tesla board's decision also want to be paid for it.
They made that clear at a court hearing in the state of Delaware this week. Incidentally, it was also a judge from Delaware who said back in January that Musk's agreement with the board would give him far too much in salary. Read more about it here .
Unsurprisingly, Tesla's own army of lawyers thinks the claim is farcical. Court documents also show that 8,000 of the car brand's shareholders have already protested the claim.
John Reed, who represents Tesla in the case, calls the claim a joke. Tesla, on the other hand, is not blind to the fact that some form of payment must take place.
Immediately, however, the car brand will only agree that the 37 lawyers can get the equivalent of 13.6 million dollars for their work. That is just under 95 million Danish kroner.
The largest attorney's fee ever awarded in securities in a US lawsuit is $688 million. The amount went to the lawyers in a fraud case against the now closed energy company Enron.
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