Lawyers Seek Record $6 Billion Fee After Winning Case Against Musk's Tesla Pay Package
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Lawyers asked for nearly $6 billion in Tesla stock as their fee for getting Elon Musk's 2018 pay package struck down in court
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The fee would set a new record for attorney payouts, dwarfing the previous record of $688 million for Enron class action lawyers
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The lawyers convinced a Delaware court to revoke Musk's $56 billion pay package, ruling Tesla's board failed to prove it was fair
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The lawyers say the fee is justified since they delivered huge value to Tesla shareholders, though they asked for less than the 33% they argue was warranted
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The nearly $6 billion in shares asked for would be freely tradeable while Musk's options carried a 5-year holding period