Lawyers Seek $6 Billion Fee After Voiding Musk's Massive Tesla Pay Deal
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Lawyers who voided Elon Musk's $56B Tesla pay package are seeking a $6B legal fee, the largest ever in a shareholder case.
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The fee request comes after a judge ruled Musk's pay package was excessive due to his ties with directors and easier performance targets.
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Musk slammed the fee request, calling the lawyers "criminals" who "did nothing but damage Tesla."
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The $6B fee represents 11% of the judgment and would be paid in Tesla stock, linking the award to the benefit created.
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The shareholder legal team consists of 3 law firms - Bernstein Litowitz Berger & Grossmann, Friedman Oster & Tejtel, and Andrews & Springer.